AWDC and SDE sign agreement

An agreement of cooperation was entered into between Antwerp World Diamond Centre and the Shanghai Diamond Exchange (SDE) recently. It was signed at Hertoginnedal, Brussels, in the presence of Belgian Prime Minister Herman Van Rompuy and Vice President of China, Xi Jinping during his recent visit to Belgium.

The agreement states that both AWDC and SDE have agreed to promote the Sino-Belgian diamond trade. Efforts will be initiated to increase diamond export volume from Antwerp to China, with promotional and logistical support from AWDC. Both organisations will work at enhancing bilateral trade and to facilitate access to Antwerp diamond dealers on the Chinese market and vice versa.

According to reports, diamond export figures to China reached a high record in the first half of 2009, as per the Diamond Administration of China (DAC). The DAC also informed that while the international diamond market is facing a sluggish demand, China has a strong domestic consumption, especially in the wedding market, reaching USD300 million in the first half of 2009. This represents an increase of 12.7 percent compared to the same period of 2008. China has become the world’s third largest diamond consumption market.

China’s new diamond taxation policy, has resulted in a steady growth for the Chinese market according to the Shanghai Diamond Centre. “China, the United States and India are today’s most significant consumers markets. China has proven to be a powerful growing market. AWDC is pleased to partner with one of the most strategic players on mainland China”, explains Freddy J. Hanard, CEO of Antwerp World Diamond Centre.