The Antwerp World Diamond Centre (AWDC) and the Shanghai Diamond Exchange (SDE) have signed a cooperation agreement towards developing an exclusive commercial and trade relation. The signing took place in the presence of Chinese President XiJinping in the framework of the President’s first visit to Europe as Head of State.

The agreement was signed by AWDC President StéphaneFischler, AWDC CEO Ari Epstein and SDE President Lin Qiang. According to the agreement, the two countries seek to establish a long-term partnership and so increase bilateral trade in diamonds by at least 10% annually, over three years. It also involves cooperation in exchanging market information, diamond knowledge, research and development, especially about preserving and defending the integrity of the natural diamond pipeline and encouraging free trade of diamonds.

Referring to the development as an honour for AWDC, AWDC President Stéphane Fischler mentioned that “Our historical ties and interdependence are a solid foundation for enhanced cooperation that will benefit both AWDC and SDE, and in turn both the Belgian and Chinese economies,” said AWDC President Stéphane Fischler. Trade between EU and China has seen a rise in the last decade, so also the diamond trade between the two countries. AWDC has focused on China for many years to increase mutual cooperation. The two countries enjoy healthy relations especially in polished diamond trade. China is Antwerp’s second top trading country and in 2013, received 1,9 million carats of exports from Antwerp valued at US$ 3,7 billion. Imports from greater China amounted to 2 million carats, valued at US$ 3,4 billion.

SDE President LinQiang declared, “The scope of the partnership outlined in this agreement is an organic development in the Belgian-Chinese diamond trade, and an important dimension of both countries’ strategic aims.” AWDC CEOAri Epstein mentioned, “We are especially honoured that this key step in the Belgian-Chinese diamond trade relationship is cemented in the presence of President Xi Jinping.”