AWDC Road Show Takes Off in Beijing

HRH Prince Philippe and Princess Mathlide visiting the booths of Antwerp diamond traders on the first day of the road show

(IDEX Online News) – The ten-day Antwerp diamond road show kicked off Monday at a meet and great event at the Great Hall of the People in Beijing. The event included the signing of a cooperation agreement between AWDC and ICBC, in the presence of HRH Prince Philippe, Belgium's Crown Price.

The Antwerp diamond road show is taking 15 Antwerp-based diamond firms through five major cities, giving China’s main jewelry firms and investors the opportunity to meet with the diamond companies. At the same time, they will have a chance to view a high-end selection of Antwerp’s finest diamonds.

The road show aims to strengthen the commercial alliances between China and Belgium.

Some of ICBC's biggest clients and investors visited the diamond traders' booths during the launch, giving them a chance to learn the basics of diamonds and see top quality large diamonds worth in excess of $200 million. Among the booth guests were the Prince and his wife Princess Mathlide.

AWDC signed a cooperation framework agreement with ICBC, one of the world's largest banks, and China National Arts & Crafts. According to the agreement, ICBC will provide financial services to Antwerp's diamond companies, including financing, cash management, Yuan-based international settlement and investment banking.

AWDC will support the launch of ICBC's diamond financing activities, including help with people, technology and information.

"We have the contacts to close the deals, the financing and ties," AWDC CEO Ari Epstein told IDEX Online after he signed the agreement. "This is about having something and selling it. The location we chose is the center of China's power. It's symbolic of this agreement," Epstein added.

Currently about 25 percent of Antwerp’s polished diamond export is headed to Hong Kong and mainland China. The bilateral diamond trade between China and Belgium is forecast to rise to $5 billion over the next year.