Finance, consumer confidence, sustainability issues raised at 36th World Diamond Congress

The 36th World Diamond Congress which concluded in Antwerp, raised key industry issues amongst finance, consumer confidence and others. The biennial World Diamond Congress is jointly organised by WFDB and IDMA.

WFDB President Ernest Blom noted that "At the heart of our discussions were the sustainability and reputation of the diamond industry and trade at large.” He added that the WFDB will enhance its communications strategy to communicate more swiftly on a global level."

IDMA president Maxim Shkadov spoke of some isses raised including ‘financing and the manufacturers' relationships with the banks and other financial institutions active in the diamond industry and trade, concern over the significant diversities of laboratory diamond grading standards and their impact on consumer confidence in diamonds; the DDI and the necessity of promoting advances in social and economic conditions throughout the diamond mining sector worldwide; and reviewing the FATF report about money laundering.’

There was strong participation at this edition of the Congress, from international diamond, gem stone and jewellery industry organization delegates. These included the representatives of 30 bourses affiliated to the World Federation of Diamond Bourses (WFDB), 15 members of the International Diamond Manufacturers Association (IDMA), CIBJO, the World Jewellery Confederation and the World Diamond Council.

Both WFDB and IDMA resolved to host the 2015 Presidents' Meeting in Ramat Gan, Israel and the 37th World Diamond Congress in Dubai, the United Arab Emirates.