The World Federation of Diamond Bourses (WFDB) Executive Committee (EXCO) on Wednesday completed a three-day program of discussions and meetings that included an extensive strategy session to analyze and decide its future mission in the growing global diamond trade.
The strategy session debated and agreed on themes that connect the WFDB and the international diamond trade’s past and present with new objectives for the future. The extensive discussions featured a wide range of views and perspectives, with an analysis of opportunities and challenges.
Among the issues debated were banking, profitability, compliance, certificates, shipping, disciplinary measures and the WFDB’s support for generic marketing and global diamond promotion via the World Diamond Mark.
The WFDB officials’ meetings included discussions with representatives of banking and mining at which EXCO underlined its commitment to support the adoption of the highest ethical standards and professional competences, throughout the trade.
WFDB President Ernie Blom said: “The WFDB has agreed to immediately broaden and deepen its ongoing dialog and cooperation with all key stakeholders in the international diamond trade.”
“The WFDB believes strongly in a profitable, expanding and respected global diamond business that will maintain its place in the world of luxury goods with diamond as a benchmark product that delights, dazzles and brings pleasure to many millions of consumers around the world.”
The WFDB added that with “a strong commitment to maintaining ongoing contact with internal and external stakeholders the WFDB will be stepping up its communications, thereby providing the market and observers with ongoing reports and news of its activities and plans.”
The WFDB membership includes 30 international bourses and effectively at least 95 percent of the world’s diamond trade handled by its members.