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DTC & WFDC Annual Meeting concludes
DTC extends support in matters pertaining to awareness and transparency in industry
By: Diamond World News Service
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Jun 13 2006 12:00AM
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Reference: 461  

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Delegations from the executive committee of the World Federation of Diamond Bourses (WFDB) and the management of the Diamond Trading Company (DTC) held their annual meeting at the DTC headquarters in London, according to a joint statement released on June 12, 2006. Issues discussed at the meet were related to ethical accountability within the industry. The DTC reiterated its commitment to provide support for non-sightholders through allocations of rough diamonds to Diamdel and also promised to continue offering presentations at cutting centers.

The WFDB confirmed to the DTC that the presentations, designed to provide non-sightholders with an overview of DTC’s view on industry challenges and its on-going strategy, was well received. The WFDB and the DTC also discussed the current market environment. DTC believes that industry fundamentals remained good both from a demand and supply perspective, while the WFDB expressed its concern regarding the current market situation. The DTC agreed to continue discussions with the WFDB on ensuring the availability of gemological detection equipment in all 25 WFDB affiliated diamond bourses around the world, for use by bourse members.

The WFDB briefed the DTC on its ‘WFDB Mark’ launch to the industry. The DTC for its part offered its support and stated that it welcomed any initiative that increased awareness of the need to make the industry transparent and accountable on ethical issues. Shmuel Schnitzer, president of the WFDB, led the WFDB delegation and was presented with a gift as a token of the DTC’s appreciation for his outstanding leadership.

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