Opening Session of the 32nd World Diamond Congress

The opening session of the 32nd Diamond Congress was an opportunity for the congress organizers and heads of diamond organizations to offer thanks to each other and to wish attendees a fruitful and fulfilling time. Though the time was primarily used for general statements, one issue was touched on by nearly all of those who spoke – consumer confidence, which even at this early stage in the proceedings, appears to be the congress watchword.

Shmuel Schnitzer, outgoing president of the WFDB, talked at length about the effect of the world economy on the diamond industry. He also discussed the WFDB Mark, which is to be launched at the congress. The mark, he told delegates, will become an integral part of the system from now on and will help to increase consumer confidence in diamonds and will also give those who adhere to the precepts of the mark a stamp of approval. 

Schnitzer said that much of the work of the WFDB over the past few years has concentrated on the consumer trade, from the full disclosure of synthetic diamonds, conflict diamonds and anti-money laundering. He also mentioned the GIA, saying that the institute has always been and still is a pillar of the diamond industry. The lessons from past mistakes have surely been learned, he said, and now the industry must help to strengthen the organization.

Jeffrey Fisher, president of IDMA (International Diamond Manufacturers Association), posed a number of stirring questions during his remarks, though as he admitted, he does not have the answers. "Why is it," Fisher asked, "that our expanding, and otherwise healthy industry is burdened by a troubling amount of bank and trade debt?

“Why is it that our leading industry journalists, despite all the good they write, go off on destructive tangents leading their readers to question their motives and raise concerns about conflicts of interest? Out to prove the pen is mightier than the sword, our noble editorialists battle each other in an ink-blood bath with no accountability – although it is sometimes entertaining?

“Why is it that beneficiation, an idea whose time has come, was met with such concern and resistance? Why is it that the NGO community's combative way of doing business cannot be tempered when an industry is genuinely committed to cooperating? Why is it that diamond manufacturers have bemoaned being in a constant nagging profitability squeeze for as long as I have been attending these meetings, but have never figured out how to unite?"

Eli Yishai, Israel's deputy prime minister and minister of industry, trade, and labor, talked of the importance of the flourishing diamond in Israel and reminded the Israeli delegates that one of his first official duties upon taking up his office had been a visit to the Israeli Diamond Exchange complex. Yishai wished the congress Mazal u'bracha.

Fientje Moerman, vice minister president of the Flemish Government and Flemish minister for economy, enterprise, science, innovation and foreign trade, greeting the assembly using a tradition Hebrew greeting. Moerman spoke confidently and fluently about the importance of diamonds in her working life. Like Yishai, Moerman has only recently taken up her position.

The minister touched on the necessity for the diamond industry, not only in Belgium but also worldwide to make sure that it is as transparent and ethical as possible. She told delegates about one of her top policy priorities, which she referred to as 'the three P's' – profit, people, and planet. As such, she applauded the WFDB for instilling increasingly ethical behavior within the diamond industry.

Moerman also mentioned the events that have taken place at the HRD of late. She promised the assembly that the HRD, the umbrella organization of the Belgium diamond industry, will be able to count on the continued support of the Belgium and Flemish governments to ensure that Belgium maintains a competitive edge over other centers.

As the working groups begin their discussions, it remains to be seen how many of Jeffrey Fisher's questions will at least begin to be answered by the end of the congress.