The World Federation of Diamond Bourses and the International Diamond Manufacturers came together for a ceremony to mark the opening of the 34th World Diamond Congress in Moscow with special guests of honor that included Russia's Deputy Prime Minister and Minister of Finance Alexei Kudrin and President of Alrosa Fyodor Andreev.

WFDB president Avi Paz said that the diamond industry is hanging in there, despite the effects of the worldwide economic crisis, but that the industry will always take challenges in stride.  He remarked that their purpose continues to be to sustain the viability and stability of rough supplies, as well as to continue manufacturing and marketing polished diamonds. 

Paz said that the WFDB plays a significant role to ensure that diamond suppliers will continue to act responsibly during the global economic crisis and recover from it with a natural but gradual growth. 

"We must continue looking beyond the daily trends and lead the entire industry toward the future with vision and courage," he said.

Later, the WFDB elected its officers and inducted the South Korean Diamond Exchange as the 29th WFDB member.  The South Korean Diamond Exchange is now eligible to attend the Asian bourses summit. 

The General Assembly also re-elected Avi Paz as president for a second term.
One of the major topics that will be discussed at the Congress is the application and utilization of the Kimberley Process Certification Schedule in Zimbabwe.  There is currently a deadlock in negotiations.

Related Articles: