WFDB Concludes Successful 40th World Diamond Congress

The World Federation of Diamond Bourses concluded a very successful 40^th World Diamond Congress, held in Ramat Gan from March 28 – 30, 2023 as part of Israel Diamond Week.

The Congress, whose theme was “Change and Innovation in the New Diamond Reality, was attended by Presidents and officers of most of the 27 member bourses, as well as dozens of Young Diamantaires. In addition to speeches by WFDB leaders -- President Yoram Dvash, VP Moshe Salem and Israel Diamond Week host Boaz Moldawsky -- the Congress featured talks by DRC Minister of Mines HE Antoinette N’Samba Kalambayi, De Beers Co-Chairman Bruce Cleaver, WDC President Edward Asscher, Natural Diamond Council CEO David Kellie, Chow Tai Fook Vice Chairman Conroy Cheng, Young Diamantaire Rachel Sahar, Sarine CEO David Block and representative of the Minister of Mines of Zimbabwe Elton Makumbe. In addition, there were enlightening talks by Prof. Alon Chen, President of the Weizmann Institute and Aryeh Lightstone, former U.S. special envoy for the Abraham Accords. 

WFDB President Yoram Dvash addressed the theme of the Congress in his opening speech. He said, “Today conditions are changing, the business climate is changing, the consumer is changing, and the competition is changing. We must study the changes and take steps to adapt. If we as leaders of the world diamond industry won’t adapt, the industry will remain behind.” Dvash called upon the industry to embrace the wisdom of the younger generation, and to invite the Young Diamantaires to join in shaping the future of the industry. 

During the Congress Yoram Dvash was reelected as WFDB President and elections were held for WFDB Officers and the Executive Committee. They include Vice Presidents Moshe Salem and Philippe Barsamian, Secretary-General Rony Unterman, Treasurer-General Mehul Shah, as well as Ahmed Bin Sulayem, Lin Qiang, Elliot Krischer, Boaz Moldawsky, Anoop Mehta, Rami Baron, Alan Cohen, Molefi Letsiki and Lawrence Ma as the Executive Committee.

The Congress reviewed topics that are currently affecting the industry. Various delegates expressed reservations about the GIA’s move to digital certificates, and it was decided that the WFDB would present these to the GIA. Another discussion focused on generic marketing of diamonds and resulted in a decision by the WFDB to begin a collaboration with the Natural Diamond Council. A committee was established to enhance the image of the WFDB globally. Lastly, it was decided to involve the Young Diamantaires in the institutions and decision-making of the WFDB.