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2009 Presidents' Meeting of WFDB discusses consumer confidence
The WFDB pricelist for polished diamonds was also introduced
By: Diamond World News Service
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Nov 16 2009 12:52PM
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Reference: 4372  

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The 2009 Presidents' Meeting of World Federation of Diamond Bourses (WFDB) and of its sister organisation, the International Diamond Manufacturers Association (IDMA) was held on November 15, 2009, with the agenda of addressing consumer confidence in diamonds and introducing the new WFDB pricelist for polished diamonds.

WFDB President Avi Paz explained the need of such discussions saying that "While the WFDB membership is spread over all five continents, we all are affected equally by the global economic slow-down and consequent lower consumer spending on jewellery, and we all need to consider what the diamond and diamond jewellery business will need to do to protect, retain and even increase its traditional market share in the luxury product market." The meeting was likely to host the 28 bourses affiliated to the WFDB.

"We expect that the highlight of 2009 Presidents' Meeting will be the introduction of the WFDB pricelist for polished diamonds. While I am committed to keep the specific details under wraps until the actual announcement during the Presidents' Meeting, I can say that this brand-new pricelist will be supported throughout and by the entire supply chain of polished diamonds, from manufacturers to retailers, and in particular by consumers. As you know, the WFDB's slogan is "Tradition, Integrity, Accountability." As the guardians of the international diamond trade, it is our task to develop tools that will increase consumer confidence in our luxury product, the polished diamond. I assure you that the measures that we will introduce at the upcoming meeting will be instrumental in advancing consumer confidence in diamond and diamond jewellery throughout what we often call the diamond supply pipeline", Paz added.

The meeting took place in Antwerp, Belgium.

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