AWDC Reinforces Foothold On Turkish Market

The Antwerp diamond industry is focusing on reinforcing its foothold on the Turkish diamond and jewelry market and has made this clear by means of a threefold initiative. In March we participated in the Istanbul Jewelry Show. AWDC is currently part of a Belgian trade mission to Istanbul and Baku where the AWDC, Borsa Istanbul and the Turkish Jewelry Exporters Association signed a Memorandum of Understanding, and from May 4 to 6, AWDC welcomes a delegation of Turkish diamond jewelers, jewelry wholesalers and manufacturers to Antwerp for a unique Visitor Program.

Turkey is one of the fastest growing economies in the world. Its sustained economic growth and burgeoning middle class has created greater purchasing power and made the luxury market flourish. Having an extensive jewelry manufacturing culture and a rich tradition of gold consumption, Turkey is Europe’s largest gold producer and one of the most dynamic jewelry markets globally, serving as the trading hub for countries in the Mediterranean, Eastern Europe, Russian Federation, Middle East and North Africa.

The Turkish government has clearly stated its intention to turn the country into a major diamond hub with the development of a roadmap for doing so. Enter Antwerp, the most obvious partner to help them realize their objectives. This is why, during the trade mission spearheaded by Secretary of State for Foreign Trade Pieter De Crem, the AWDC, Borsa Istanbul and the Jewelry Exporters Association signed a Memorandum of Understanding.

As Margaux Donckier, spokeswoman of AWDC, concludes, “The intention of the government to profile the country as a center for (polished) diamonds, combined with its emerging middle class, will turn Turkey into a significant player on the global luxury market. By ensuring that our Antwerp diamond traders have solid contacts with the most important Turkish jewelers, we have the clear ambition to establish a strong foundation for the coming years.”