The World Diamond Mark Foundation (WDM) announced today that it had signed a   Memorandum of Understanding (MoU) with IDEX (International Diamond Exchange). The MoU was signed on the sidelines of the recently concluded India International Jewellery Show (IIJS) in Mumbai.

The two bodies agreed that they "share common goals in seeking to sustain and improve consumer desirability and confidence in diamonds and diamond jewellery”. And, further, that they intend to "undertake joint projects to promote the WDM marketing campaign and IDEX products."

IDEX Chairman Ehud (Udi) Cohen expressed confidence that the co-operation would be beneficial for both sides.

"IDEX is pleased to support an initiative that works to bring increased transparency to the industry," Cohen stated. "IDEX fully backs the WDM's objectives of promoting desirability and confidence in diamonds in core consumer markets.”

WDM Chairman Alex Popov said: "Our cooperation with IDEX constitutes a win-win scenario. IDEX recognises and will make its best endeavour to support the 'WDM Authorised Diamond Dealer®' programmes and their proliferation in the jewellery retail markets. WDM on its part will offer its full support to the global promotion of IDEX."

Popov explained that though the WDM has its own communications system in place,  cooperation with IDEX would provide “yet another outstanding channel to the market” and help enhance awareness of the WDM's work through IDEX's relationship with other stakeholders, industry organisations, jewellery trade organisations and retail associations. "IDEX is a well-known brand throughout the diamond, gem and jewellery supply pipeline. We are very pleased with this cooperative venture and I am sure it will be beneficial to both parties," Popov concluded.

Pic Cap:

Alex Popov (lft) and Ehud Cohen after signing the MoU