AWDC and Russia Sign Agreement to Strengthen Ties
March 13, 14
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A Memorandum of Understanding was signed during the Antwerp Diamond Night by Fischler and Andrei Yurin, Head of the Gokhran. The MoU commits both parties to exchange market information, knowledge and technology and to work more closely towards their common goal of strengthening the reputation of the natural diamond market.
The exclusive networking event, organized by the AWDC, provided an opportunity for both long-term clients and other Belgian companies to benefit from the strategic partnership between the world's largest diamond-mining country by volume and the leading diamond trading hub.
The event was hosted by the Belgian Ambassador to the Russian Federation, Alex Van Meeuwen, and attended by AWDC President, Stéphane Fischler, Vice President Kaushik Mehta, and Board Director Ramesh Patel.
Russia is one of the most important suppliers of rough diamonds to Antwerp. In 2013, Antwerp imported 22.8 million carats of diamonds from Russia, constituting 25 percent of all Antwerp rough imports and with a value of $2.8 billion.
On average, more than 50 percent of rough diamonds from Alrosa are traded in Antwerp, home to the largest concentration of Alrosa’s long-term agreement clients.
The Moscow event followed the signing several months ago by the AWDC and Alrosa of a cooperation agreement that further formalizes their cooperation over the next three years.
The agreement calls for both parties to contribute to the development of a competitive rough and polished diamond market in Russia and to the promotion of rough sales in Antwerp, a formalized exchange of information and knowledge on various facets of the industry and educational opportunities.