17 Sep 2019
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Time to Retrospect & Act
World Diamond Congress
By: Diamond World News Service
Dec 27 2018 4:32PM
Reference: 16884  

(L to R) Gaetano Cavalieri, Pramod Kumar Agrawal, Ronnie Vanderlinden, Mehul Shah, Anoop Mehta and Ernie Blom
(L to R) Gaetano Cavalieri, Pramod Kumar Agrawal, Ronnie Vanderlinden, Mehul Shah, Anoop Mehta and Ernie Blom
Stakeholders at the World Diamond Congress agreed that the global diamond industry has to take into account the current situations and issues plaguing the industry, reflect on them and take action accordingly. By Kavita Parab

At present, the diamond industry -be it domestic or international - is at a stage where there are many issues like FTC guidelines, reduced bank exposure, changes in the functions of the trade shows, and synthetic diamonds. These were the issues discussed at the recently concluded World Diamond Congress. The Congress, bi-annual meeting of IDMA and WFDB was held at Bharat Diamond Bourse in Mumbai.

It was also the first time the Congress was live streamed across the bourses in the world.

Kimberley Process & System of Warranties (SoW)
During its 14th AGM in Mumbai, World Diamond Council (WDC) reached consensus on critical areas of reform for both the Kimberley Process and the WDC System of Warranties(SoW). WDC in a statement said that “a Board- instructed strategic planning committee will develop a member’s toolkit to help in the implementation of the guidelines respecting the realities and practicalities of the diamondsupply chain. These guidelines will introduce the strongest level of adherence to date for SoW statement users, requiring adherence to universally accepted principles on human and labour rights, anticorruption and anti-money laundering in support of mandatory Kimberley Process Certification Scheme (KPCS) implementation including the inclusion of OECD due diligence guidelines. Changes will be implemented on an ongoing basis and will be included in the upcoming 2021-2025 WDC Strategic Plan.”

Also, the board members re-affirmed their continued commitment to KP reform with agreement to push forward on an expanded definition of conflict diamonds to address human security and environmental concerns. The WDC Board meeting included the appointment of Edward Asscher as Vice President, the re-election of Ronnie Vanderlinden as Treasurer, and reappointment of Udi Sheintal as Secretary-General.

During the Congress, the GJEPC also urged the global diamond industry to incorporate a process enabling the certification of diamonds that do not carry the stigma of corruption or money laundering and are not linked in any way to terrorism or terrorist financing.

Pramod Kumar Agrawal, Chairman, GJEPC said, “World diamond industry need to walk the path of sustainability. We should reform the way we do business and reform should begin with selfregulation.” He further mentioned that Indian diamond industry as a whole also proposes to adopt sustainable development practices.

Even Dr. Gaetano Cavelleri, CIBJO President spoke about responsible sourcing, unity and cooperation. He said, “I think that one of our commitments and responsibility is to be responsible in how we source our goods wherever they come from.”

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