Antwerp welcomes diamond industry at 36th World Diamond Congress
From June 16 to 18, Antwerp hosted the 36th World Diamond Congress, powered by the Antwerp World Diamond Centre and organized by the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA). Over 200 participants from all over the world, representing the entire industry, discussed key issues and challenges, setting the course for the future of the global diamond industry.
The 36th World Diamond Congress was officially opened on Monday June 17 with speeches from the leadership of the industry, including WFDB President Ernest Blom, IDMA President Maxim Shkadov, and AWDC's President Stéphane Fischler. During the opening ceremony, alongside other local dignitaries, Flemish Minister President Kris Peeters welcomed all participants to the diamond capital of the world and in reference to the current tensions regarding Ukraine, reiterated the Belgian and Flemish commitment to safeguard the Antwerp diamond industry from the potential impact of European trade sanctions on the industry; "Diamonds are our region [Flanders] and country's calling card," he said. "They provide work for 35,000 people in the Antwerp area alone. Sanctions would be a catastrophe."
Over the course of the four-day event, key stakeholders and industry experts discussed various topics, such as the issue of undisclosed synthetics and the need for uniformity in diamond grading lab reports and the challenge of maintaining and reinforcing the industry's financing, by creating even more transparency and stakeholder awareness and confidence.
IDMA President Maxim Shkadov expressed the manufacturer's concerns on the industry's profitability and the need for an open and constructive dialogue with all the elements of the value chain. Martin Rapaport of the Rapaport group focused on the essentials of marketing diamonds in a world where the competition with other luxury items is greater than ever.
Another contribution that stood out was the speech given by Rory More O'Ferral, Honorary Vice Chairman of the Diamond Development Initiative DDI. O'Ferral commented that while the global diamond industry should be proud of creating the the Kimberley Process (KP), the KP does not deal with issues of human rights or social degradation. He said that it was in the industry's interest, in order to avoid the possibility of more regulation and consumer boycotts, to take action now and contribute to the DDI's work, improving the lives of the estimated 1.5 million diggers and artisanal miners working in absolute poverty in Africa.
During the Congress, Canada and South Korea were formally approved as members of the WFDB, which now comprises a 30 diamond bourses worldwide. In addition, the Gem and Jewellery Export Promotion Council India (GJECPC) was admitted as an Associate Member. In a joint statement, the WFDB, IDMA and CIBJO announced the formation of the so-called 'President's Forum', which is a joint consultative committee with its members being the presidents of each organisation. Together they will discuss and formulate coordinated strategies and policies for the industry on important issues of common interest.
Upon concluding the 36th Congress, WFDB and IDMA announced the 2015 Presidents' Meetings will be held in Ramat Gan, Israel, while the 37th World Diamond Congress taking place in Dubai, United Arab Emirates in 2016.
You can find transcripts of speeches and official press releases issued during the 36th World Diamond Congress below.
