The Executive Committee (EC) of the World Federation of Diamond Bourses (WFDB) has agreed to take steps in a new strategic direction that includes expanding its membership by accepting associate and other members, and introducing a global communications strategy to make it the authoritative trade organisation of the diamond industry, according to a statement issued by the organisation today.

The ExCo met at Idar-Oberstein, Germany, over the last two days. These decisions emerged from discussions and debates related to the next steps the organisation should take to increase its global footprint.

Executive Director, Louise Prior, gave a detailed analysis of the current work of the WFDB and plans for taking the federation forward. On the issue of new members, the ExCo meeting accepted a proposal to enable the creation of sub-committees to create forums for new associate and nation affiliated members.

WFDB President Ernie Blom said that the organisation undertook an exhaustive review of its operations and what its future direction should look like.

"We take our leadership position very seriously, and in a rapidly changing world we need to carefully examine how we boost it further by adding other representatives of the diamond pipeline," said WFDB President Ernie Blom. "They are interested in being affiliated to the WFDB and our members will benefit from their input.”

He added, “This is the first step and we realise that we need to move quickly in implementing a new strategy. The business environment moves rapidly and we want to be the clear voice of the industry for the media, government bodies and other organisations.”

The WFDB ExCo reiterated its support for the World Diamond Mark and its generic diamond promotion work.

The WFDB will hold its next Executive Committee meeting on February 28 in Seoul, South Korea, with the annual Asian Summit to take place the following day. Meanwhile, the 2016 World Diamond Congress will take place in Dubai from May 16 to 19.