IDMA, WFDB Call for Immediate Diamond Protocol Discussions

140 95 Rapaport News

Press Release: At the conclusion of the 35th World Diamond Congress, the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) expressed joint appreciation of the efforts by the U.S. chair of the Kimberley Process (KP) to consult all industry stakeholders on the new definition for conflict diamonds and to assure that any decisions made are reached under complete, industry-wide consensus.

Following the introduction of the Diamond Source Warranty Protocol, which was developed by Jewelers of America (JA), the Jewelers Vigilance Council (JVC) and the Diamond Manufacturers & Importers Association of America (DMIA), both IDMA and the WFDB voiced their members’ grave concerns as to the affect on the flow of goods throughout the legitimate diamond supply pipeline.

Speaking on behalf of both organizations, newly elected IDMA president, Maxim Shkadov, and newly elected WFDB president, Ernie Blom, said the two organizations would need to enter into an immediate and intense dialog with their U.S.  colleagues to try and mitigate the perceived difficulties and barriers this initiative would be presenting to the international gem and jewelry business community.

Both organizations lauded the hosts, Bharat Diamond Bourse (BDB) and the Gem & Jewellery Export Promotion Council (GJEPC), for their achievements in organizing the congress, the accompanying mini conference and the social events.

In addition to a good turnout of their members, IDMA and WFDB were very pleased with the high level of participation of ministers from South Africa as well with the participation of senior members of the diplomatic corps in India. Blom and Shkadov said that their Indian colleagues not only made all feel very welcome, but had also added significant content into this congress. “They deserve our highest praise and most sincere appreciation,” they stated.

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