IDMA Announces Diamond Marketing & Promotion Campaign

The International Diamond Manufacturers Association (IDMA), the representative body of the world’s diamond manufacturers, concluded its meetings at the 33rd World Diamond Congress, which is the biennial gathering of IDMA and the World Federation of Diamond Bourses (WFDB).

IDMA elected Moti Ganz, President of the Israel Diamond Manufacturers Association (IsDMA), as its new President, and Ronnie Vanderlinden as its new Secretary General. Vanderlinden succeeds Stephane Fischler, who served in that capacity for the past 10 years. The members appointed outgoing IDMA President, Jeffrey Fischer, Honorary President.

Speaking after his election, Ganz said he is excited for the opportunity to represent the interests of the IDMA’s international membership during a time of increased globalization and the challenges to the diamond industry at large.

Global Promotion Campaign : During its meeting, IDMA announced the launch of the “ Global Diamond Marketing & Promotion Campaign.” The initiative is intended to raise awareness of the need for effective advertising and promotion of polished diamonds and diamond jewellery, to drive increased consumer demand. In September 2008 in Mumbai, IDMA will convene a meeting of industry stakeholders, for the purpose of establishing a platform that will coordinate industry-wide advertising and promotion of diamond jewellery on a global scale.

IDMA invited Michael C. Barlerin, a former executive of the World Gold Council, to be a key note speaker. He shared with the trade IDMA’s vision and plans. Barlerin spoke during the joint session of IDMA and WFDB on May 14.

IDMA invited industry consultant Chaim Evan Zohar to make a presentation regarding the ramifications on the diamond industry and trade, of the Basel II minimum capital adequacy requirements for the banking system.

The IDMA reconfirmed its commitment and support for the Diamond Development Initiative.

IDMA also reconfirmed its commitment to remain involved in the Council for Responsible Jewelry Practices, (CRJP).

New Members : IDMA formally voted to accept two new members - Armenia and Botswana. The organization has also received a membership application from Namibia