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What will the diamond industry look like at the end of the current decade?
By: Diamond World News Service
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Jul 16 2011 6:27PM
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Reference: 6158  

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What will the diamond industry look like at the end of the current decade? This was the key question addressed at the 2011 Antwerp Diamond Conference by a range of experts both from within the industry and outside it. A Diamond World report.

For two days an impressive array of speakers at the 2011 Antwerp Diamond Conference held at the Wagnaatie in the Port of Antwerp looked at various issues that could determine the shape that the diamond industry would take by 2020. Rough diamond supply, Finance and Credit, Marketing and Branding, New Technologies, these and many other related issues were discussed threadbare in front of an audience comprising about 400 members of the industry and media who had attended the conference entitled “Diamonds 2020: A Window to the Future”.

Change was a theme that dominated the discussions from the word go, beginning with AWDC CEO Ari Epstein’s welcome speech, where he said, “The winds of change are blowing strongly through the diamond industry, and the world that they leave behind them will be greatly different to the one that existed previously.

“U.S. President Dwight D. Eisenhower said that ‘neither a wise nor a brave man lies down on the tracks of history to wait for the train of the future to run over him’,” Epstein continued. “We need to understand, embrace and ultimately be empowered by the future. We will be looking closely at that oncoming train, so that we may jump safely aboard and ride it on its journey over the horizon.”

The winds of change are blowing strongly through the diamond industry, and the world that they leave behind them will be greatly different to the one that existed previously. – Ari Epstein

Specific focus was given to the impact of changes brought about by the recent global financial crisis, as many of the speakers focused on subsequent efforts by governments to exercise greater care in regulating banking. Particular attention was drawn to Basel III, which is the new global regulatory standard on bank capital adequacy and liquidity agreed by the members of the Basel Committee on Banking Supervision.

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