The 37th World Diamond Congress concluded in Dubai on Thursday, with the industry reiterating its commitment to Transparency, Responsibility and Sustainability and encouraged all members across the global diamond supply chain to worki towards boostin consumer confidence in diamonds.

The biennial meeting of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) was held in Dubai from May 16-19. During the sessions, the two organisations took an in-depth view of the issues affecting the global diamond sector.

Speaking to the press at the end of the four day event, WFDB President Ernie Blom said, "We covered a huge amount of ground and were able to have very lengthy and profound discussions. It is critical that we hear global perspectives and the views of all members of the diamond pipeline and feed them into our comprehensive implementation programme.”

Blom said that he was delighted at the attendance at the Congress, as well as the quality of the speakers, and said that every session was full with interest and seriousness shown by the many delegates.

The President also said that there has been “promising progress in the development of our international Young Diamantaires group”. He said these members of the younger generation of diamond firms from all the main diamond centres, including Israel, India, Belgium, the United States and South Africa, are taking responsibility for tackling the challenge of leading the industry in the future. “They are bringing their specific generational skills and outlook into the industry," he added.

The Congress also reiterated that it recognizes the importance of increasing transparency and integrity in the global diamond supply chain.  "We are proud that the global diamond business is one of the best regulated industries in the world, and we have been at the forefront in proactively seeking to ensure that this continues. Our members work according to wideranging rules and regulations that ensure that diamonds are totally free of any possible suspicion, including U.N. resolutions, the Kimberley Process national legislation, anti money laundering regulations, Know Your Customer programmes and the WFDB Code of Conduct and chain of warranties requirements," Blom told the media.

The WFDB also put on record the fact that it respects the right of diamond companies to make agreements and implement protocols with other parties. “Together with the WFDB's rules and regulations that our members stringently follow, we are striving to guarantee a transparent supply chain. Furthermore, the WFDB is in ongoing communication with its affiliated diamond bourses to implement and enforce all relevant rules and regulations," Blom added.

The WFDB agreed that the next Presidents Meeting in 2017 will be hosted by the Bharat Diamond Bourse, while the 38th World Diamond Congress in 2018 will be hosted by the Israel Diamond Exchange.

Pic caption:  WFDB President Ernie Blom with Ahmed Bin Sulayem, Executive Chairman of the host organisation, DMCC