The World Federation of Diamond Bourses needs to attract more female and younger members, the umbrella association said in its press release following the end of the biennial World Diamond Congress in Antwerp, Belgium.
Reelected president Ernest Blom added the group, which represents 30 diamond trading clubs worldwide, needs to develop its next generation of leaders.
The organization also pledged to keep a “watchful eye on synthetic diamonds.”
Lab-grown diamonds are “not seen as the enemy,” the WFDB said, “as they have their own market niche, but they must be marketed with full disclosure.”
The group also said it would work to “ensure unanimity in lab reports.”
Leaders also pledged to place a new emphasis on communications and “telling the story” to build consumer confidence.
The WFDB also approved Canada and South Korea to join the WFDB. India’s Gem and Jewellery Export Promotion Council was admitted as an associate member.
Sister group the International Diamond Manufacturers Association also participated in the congress. Its deliberations covered the industry’s relations with banks; different lab grading standards; the recent Financial Action Task Force report on money laundering in the industry; and support for the Diamond Development Initiative.
Blom and several other group presidents also participated in the Presidents Forum, a new initiative meant to get presidents of different industry organizations to work more in concert. Its first order of business is to engage with another industry organization, the Precious Stones Multi-Stakeholder Working Group, to discuss the creation of acceptable due diligence guidelines.
The meeting was hosted by Gaetano Cavalieri, president of CIBJO, the World Jewellery Confederation, and included Blom; IDMA president Maxim Shkadov; and recently elected World Diamond Council president Edward Asscher. It was chaired by Eli Izhakoff, honorary lifetime president of the World Federation, CIBJO, and the World Diamond Council.
The event was held June 15–18 at the Antwerp Hilton. The 2015 Presidents’ Meeting will be held in Ramat Gan, Israel, and the next World Diamond Congress will be held in 2016 in Dubai, United Arab Emirates.