ALROSA and Antwerp World Diamond Centre (AWDC) signed a new three-year cooperation agreement on April 24 in Moscow that will extend the existing bilateral ties between the two centres and also expand interaction in line with new challenges of the market, ALROSA said in a statement yesterday.

The agreement was signed by ALROSA CEO Sergey Ivanov and AWDС CEO Ari Epstein in the presence of Bart de Wever, Mayor of Antwerp, and Jean-Arthur Regibeau, Ambassador of the Kingdom of Belgium to Russia.

The new agreement seeks to improve the scope and efficiency of ties between the two centres and will continue the arrangement of exchanging information related to the diamond market, ALROSA stated.

Further, the two organisations have agreed to carry out joint promotion of marketing initiatives, including generic marketing to maintain the value of diamonds as a category and stimulate consumer demand. While each will support marketing initiatives taken up by the other, AWDC has also agreed to support the efforts taken up by ALROSA along with other members of the Diamond Producers Association (DPA).

Attention will also be paid to the problem of illegal penetration of synthetic stones into the trade of rough and polished diamonds. Both organisations will jointly promote and protect the procedure of differentiation in rough diamonds and synthetic stones, including support of industry initiatives. AWDC will also allow for comprehensive check-ups and support the promotion of detection devices for synthetic stones, including Diamond Inspector, the technology developed by ALROSA.

The two will also continue their close collaboration within the World Diamond Council (WDC) to complete the reform of the WDC’s System of Warranties, and support the WDC as an industry representative in the Kimberley Process.

“Belgium is the world’s largest diamond trading center and ALROSA’s largest trade partner. In 2017 alone, ALROSA supplied rough diamonds worth over USD 2 billion to companies in Belgium. ALROSA has 55 long-term clients who buy gem-quality rough diamonds, and 21 of them are companies from Belgium. That is why we are interested in the cooperation with this market and its industry organizations. AWDC is ALROSA’s long-standing and reliable partner with vast experience, and I am confident that the new agreement will allow us to further strengthen our cooperation and aim our joint efforts at the development of the industry,” said ALROSA CEO Sergey Ivanov.

“ALROSA and AWDC have been working together for more than 15 years. ALROSA today is the world’s largest rough diamond supplier, accounting for 31% of diamond trade in Antwerp by volume and 21% by value. We set a high value on the existing collaborative experience with the Russian party and with ALROSA, and we will strive to further strengthen our cooperation and work together for the development of diamond markets in Russia and Belgium,” said AWDC CEO Ari Epstein.

Pic courtesy: ALROSA on Facebook