Izhakoff Calls On Cavalieri To Head Diamond Industry Leaders Meeting

(IDEX Online News) – Honorary World Diamond Council President Eli Izhakoff called on CIBJO President Gaetano Cavalieri to lead a meeting at the World Diamond Congress in Antwerp next month of diamond industry organization heads to heal divisions caused by work of the Precious Stones Multi-Stakeholder Working Group (PS-MSWG).

Referring to Cavalieri's speech where he mentioned the efforts of the PS-MSWG to get the OECD or the European Union to adopt a more encompassing diamond regulatory framework, Izhakoff said it was critical that the diamond industry thrash out the issue and come to an agreement.

"In my time as a leader of various organizations, I have always found that unity is strength," Izhakoff said. "It is always easy to say 'No', but it is much more difficult to say 'Yes'.

"I recommend that Gaetano Cavalieri meets with Maxim Shkadov, President of the International Diamond Manufacturers Association, the newly elected President of the World Diamond Council, Edward Asscher, and World Federation of Diamond Bourses President, Ernie Blom to discuss the impact of the moves.

"There is a division in the industry, and it is imperative that we bridge gaps. Hopefully, by the end of the World Diamond Congress we will be united following a meeting of the major industry organizations," Izhakoff added.

Cavalieri had earlier said in his speech to the opening of the Congress that: "There is a growing tendency of players in our industry, sometimes private companies, to lobby government and other international organizations to enact legislation or regulations they say are intended to protect the chain of distribution. These players represent themselves – not the industry as a whole and certainly not the international business. That is the role of elected representatives, like the national organizations and by association CIBJO.

"It has been well reported in the international press that a side meeting will take place in just a few days in Paris, where certain industry members, mainly large companies, will be discussing how the jewelry industry, could contribute to establishing new OECD due diligence guidelines on precious stones. I would like to state that CIBJO, as the leading representative of national associations from our industry around the world, should have been consulted. We were not. Neither were the African producing countries or Russia, which together represent almost 90 percent of world diamond production.

"Let me stress, we do not have a problem with companies acting in their own interest, but we do have a problem when it is in conflict with the general interest which is the one that in the jewelry industry we democratically and legitimately represent, and in the diamond industry the Africa mining countries and Russia legitimately represent. Although we understand and sympathise with the rationale of conflict mineral initiatives, the effects of poorly conceived legislation or regulations can be devastating."