WFDB's Blom Says Perspective Needed Regarding Synthetic Stones

(IDEX Online News) – The global diamond industry, while being alert to the dangers of synthetic diamonds, should not exaggerate the scale of the problem, World Federation of Diamond Bourses (WFDB) President Ernest Blom said on the first day of the launch of the Panama Gem & Jewelry Center in Panama City.

"We are talking about less than 0.2 percent of diamonds traded around the world," said Blom. "They are not a threat to our industry," he added, saying that the WFDB had brought out a declaration that it is recommending that members of WFDB-affiliated bourses include on their invoices saying that diamonds that were being sold did not include synthetic stones.

"I must reiterate that they are a tiny problem, however we must be on our guard to ensure that it does not become a larger problem," Blom commented, saying that members should insist that the declaration appears on invoices when buying goods.

Meanwhile, CIBJO President Gaetano Cavalieri said the global jewelry confederation was also deeply involved in the synthetic diamonds issue for the benefit of the diamond industry "and particularly for the benefit of consumers".

"Jewelers all over the world are concerned. Full disclosure is absolutely required. If one of us in the industry does something wrong, then it reflects on all of us," he said, adding that CIBJO's annual congress to be held in Moscow in May would include a wide-ranging debate of the topic.