Core Issues At Heart of World Diamond Congress Talks, Say Blom, Shkadov
June 18, 14
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"At the heart of our discussions were the sustainability and reputation of the diamond industry and trade at large," said WFDB President Ernie Blom. "Among others, the WFDB resolved to build on its communications strategy and to expedite communications on a global level."
Meanwhile, IDMA President Maxim Shkadov said IDMA and WFDB delegates had held long and intense discussions on the diamond supply chain.
Blom and Shkadov told a press conference at the conclusion of the congress that the meeting had discussed the "numerous challenges" that the diamond industry faces. These included industry profitability, relationships with banks to enable greater financing, and the issue of undisclosed synthetic diamonds.
Blom also said that the WFDB and IDMA would be taking part in discussions with the Precious Stones Multi-Stakeholder Working Group (PS-MSWG) group "so that we can work from within and not without".
Meanwhile, Shkadov added: "We talked at length about issues such as financing and the manufacturers' relationships with the banks and other financial institutions active in the diamond industry and trade.
"In addition, we expressed our concern regarding the significant diversities of laboratory diamond grading standards and their impact on consumer confidence in diamonds; spoke about the DDI (Diamond Development Initiative) and the necessity of promoting advances in social and economic conditions throughout the diamond mining sector worldwide; and reviewed the FATF (Financial Action Task Force) report about money laundering," Shkadov noted.
The WFDB and IDMA announced that the 2015 Presidents' Meeting will take place in Ramat Gan, Israel, while the 37th World Diamond Congress will be hosted in Dubai.