Previous News:
October 2021
September 2021
August 2021
July 2021
June 2021
May 2021
April 2021
March 2021
February 2021
January 2021
December 2020
November 2020
October 2020
September 2020
August 2020
July 2020
June 2020
May 2020
April 2020
March 2020
February 2020
January 2020
December 2019
November 2019
October 2019
September 2019
August 2019
July 2019
June 2019
May 2019
April 2019
March 2019
February 2019
January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
May 2016
April 2016
December 2015
March 2015
January 2015
September 2014
August 2014
July 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
January 2013
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011

IDMA and WFDB Concludes 38th World Diamond Congress

IDMA and its sister organization the World Federation of Diamond Bourses (WFDB) concluded the 38th World Diamond Congress that was held in Mumbai, India, from October 23 to 25. The Congress is the biennial gathering of the WFDB and IDMA.

IDMA President Ronnie VanderLinden said that during the two days of intensive deliberations the changing landscape of diamond manufacturing was at the heart of the members' discussions. "We need to recognize that we have lost a significant number of factories, especially in the smaller diamond centers, and that apart from in India, in most Asian and African countries, diamond manufacturing is dwindling," he noted.

"In Armenia, Namibia, South Africa, Russia, Sri Lanka and Thailand, diamond manufacturing is on the wane and many factories have consolidated or closed. Even in China, not too long ago a diamond manufacturing nation with more than 10,000 cutters, we're down to several thousands. This is, of course,having a profound impact on our membership and this year, several of our members have indicated they do not have the wherewithal to continue their IDMA membership," VanderLinden added.

VanderLinden said that with the changes in the diamond manufacturing sector's landscape, as well as due to the many other challenges the diamond industry is facing, the time may have come for the diamond trade to unite under a single header and speak with a single voice on behalf of its members. "We started speaking with our colleagues in the WFDB many years ago, but at this congress, we have made significant progress toward this goal."

VanderLinden recalled that in the USA a few years ago, sixteen diamond, gem and jewelry organizations and associations had come together under a single header, the United States Jewelry Council (USJC). This enabled the U.S. industry to speak with one voice when representing and fighting for the interests of the industry at large. He argued that there's no reason not to do the same in the global diamond industry.

"Clearly, the health of the entire industry depends on the health of the middle market, which plays an important and indispensable role in the entire supply chain! We also recognize that IDMA and WFDB share more things in common than we have differences. As such, the industry's current, difficult environment requires a more united and coordinated effort and approach, especially when we consider pressing issues like the search for new, alternative financing partners and the many reputational issues we are facing."

At the conclusion of the two-day marathon deliberations, IDMA representatives met with the WFDB president and members of the WFDB Executive Committee, presenting a proposal. This one-page document was received favorably and therefore will serve as a platform for further discussions.

Before hammering off at the end of the second day, VanderLinden welcomed the newly elected IDMA Vice President Prince Mbetse, who is President of the South African

Diamond Manufacturing Association (SDMA) and Secretary-General Matthew Schamroth, board member of the Diamond Manufacturers & Importers Association of America (DMIA).

Mbetse replaces Phillippe Roolant of the Thai Diamond Manufacturing Association, who resigned as IDMA VP for personal reasons. Schamroth replaces Kim Lanny, former president of the Botswana Diamond Manufacturing Association (BDMA), who exited the diamond industry earlier this year. VanderLinden thanked both colleagues for their many years of service to the industry and said that they will be missed.
AT: 11/05/2018 05:06:48 PM   LINK TO THIS NEWSLETTER
0 Comments:

Post a Comment
 
Comments are closed.
Copyright © 2024

Sitemap | Privacy Policy