The World Federation of Diamond Bourses (WFDB) expressed full support for the Luanda Accord, the agreement reached last week among major diamond-producing countries and trading centres to fund the promotion of natural diamonds, in a meeting in Luanda, Angola.

All the signing parties have agreed to contribute 1% of the annual revenue they generate from rough diamonds to the Natural Diamond Council’s promotion budget.

The accord was signed by Botswana, Angola, Sierra Leone, Namibia, South Africa, the Democratic Republic of Congo, Antwerp World Diamond Centre, the African Diamond Producers Association, Dubai Multi Commodities Centre, and India’s Gem & Jewellery Export Promotion Council.

The Luanda Accord was signed a week after the WFDB Presidents’ Meeting in New York, where all parties agreed that it was imperative for the industry to join together to take action to support natural diamonds. Most of the parties to the Luanda Accord were represented at the WFDB meeting, which was headlined by the President of Botswana Duma Boko, and included the Minister of Minerals and Energy of Botswana Bogolo Kenewendo, Minister of Mineral Resources, Oil and Gas of Angola Diamantino Azevedo, De Beers CEO Al Cook, DMCC Exec. Chairman Ahmed Bin Sulayem and others. At the meeting, the WFDB revealed its own natural diamond video campaign and called on industry members to share the videos on social media.

WFDB President Yoram Dvash particularly praised the WFDB members who were signatories to the Accord – the Dubai Multi Commodities Centre and India’s Gem & Jewellery Export Promotion Council. “I am very gratified to see the mobilization of the global diamond industry to promote natural diamonds. As I said at the Presidents’ Meeting, now is the time to lead with unity to protect the value and legacy of the natural diamond. United, we will remind the world why a natural diamond will always be forever.”