Vicenza: Mehul Shah, President, World Federation of Diamond Bourses (WFDB), has reaffirmed the global diamond trade’s support for CIBJO’s work on standards, transparency and consumer confidence during the organisation’s centenary celebrations at Vicenzaoro.
Addressing delegates at the CIBJO Centenary Congress, Shah congratulated Dr Gaetano Cavalieri, President, CIBJO, on the organisation’s 100-year milestone and recognised its contribution to the industry through the CIBJO Blue Books and Retailers’ Guidelines.
A key point in Shah’s address was CIBJO’s adoption of the term “synthetic diamonds” for laboratory-created diamonds. He noted that the WFDB had also passed a resolution supporting the terminology, describing it as an important step towards greater clarity and transparency in the diamond trade.
Shah said natural and synthetic diamonds should not be directly compared, arguing that they serve different consumer segments. He described natural diamonds as rare products of nature, while suggesting that synthetic diamonds are currently attracting consumers who may not yet have the purchasing power for natural diamond jewellery.
He further suggested that synthetic diamonds should be viewed alongside other diamond alternatives, such as moissanite and crystals, rather than positioned simply as replacements for natural diamonds. According to Shah, they could also serve as an entry point for consumers who may eventually progress towards natural diamond purchases.
Shah also stressed the need for international trade organisations to work collectively to address challenges facing the diamond, gem and jewellery industries.
“Every organisation brings its own expertise,” Shah said, emphasising that combining these strengths could create a stronger platform for industry progress.
He also highlighted CIBJO’s recognition by the United Nations Economic and Social Council (ECOSOC) in 2006 as a technical expert and adviser, describing the recognition as an indication of CIBJO’s global credibility and influence.
Concluding his address, Shah reaffirmed the support of the WFDB, Bharat Diamond Bourse and the wider global diamond industry for CIBJO, expressing a commitment to stronger collaboration between the organisations.
The CIBJO Centenary Congress is being held in Vicenza alongside Vicenzaoro and marks 100 years since CIBJO’s establishment in 1926. The congress has placed standards, sustainability, responsible sourcing and consumer confidence among its key areas of discussion.
