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Antwerp World Diamond Centre To Host Groundbreaking Diamond Conference
Conference to discuss aims and implications of producer country policies
Sep 3, 2007 11:26 AM
By Press Release
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RAPAPORT...
Antwerp, September 3, 2007 - This October, the Antwerp World Diamond Centre (AWDC), formerly known as the HRD, will host a landmark conference to discuss the future of the diamond industry, in particular the changes that are likely as a result of the increasing power of producer countries. The conference will be addressed by the Deputy President of South Africa, the Deputy Prime Minister of Angola, senior representatives from Botswana and Liberia, the Nobel Prize-winning economist Joseph Stiglitz and global development campaigner Bob Geldof. The conference will also involve the leading mining companies and representatives of all other major producing countries, including Russia and Canada.
The conference, “Producers in transition: the Changing Industry Dynamic”, moderated by Chaim Even-Zohar, will take place on October 15th and 16th at the Flanders Congress & Concert Centre in Antwerp, Belgium.
The conference will address the major issues facing the diamond industry: whether the shift in power towards diamond producing countries will continue, and what impacts this will have on mining companies, diamond cutting and polishing, diamond trading centers, diamond banking, and retailing. The conference has been designed to hear the view of all stakeholders at first hand.
Anticipating the conference, AWDC's CEO Freddy J. Hanard said, “The changes we are seeing now are transforming the global diamond industry more significantly than we have seen for many years. Not only are we witnessing changes in production and distribution, there will also be impacts on diamond trading and marketing around the world. Such a fundamental debate has never taken place within the industry. Our aim is to discuss the future of the industry with everyone in one room.”
The discussion will open by hearing directly from the leaders of producer countries what their future ambitions and policies will be. The conference will be addressed by Deputy President Mlambo-Ngcuka of South Africa, and senior representatives from Angola, Botswana, Canada, Liberia and Russia. Each country will set out how they see the diamond industry and their development and will explain how they are intending to reclaim more of the ‘value chain.’
The next key question is whether these ambitions are economically realistic. The conference has attracted one of the world’s leading economists, professor Joseph Stiglitz, who will comment on the plans of the producer countries. Professor Stiglitz, the former chief economist of the World Bank, has won a Nobel Prize for Economics and is internationally renowned for his work on understanding how developing nations can realistically expect to benefit from globalization. Professor Stiglitz will draw on his expertise and experience to discuss whether the ambitions of producer countries are economically feasible both in the short-term and the long-term.
The plans of the producer countries have significant implications for international mining companies. The conference will hear the view of De Beers on these developments, as well as other mining companies such as BHP Billiton and Rio Tinto. ALROSA will take the opportunity to promote the company by organizing a special event the Sunday prior to the conference in addition to having Sergey Vybornov, president of ALROSA, address the conference.
The conference will also debate the implications of these developments for the downstream supply chain. Will a bigger share of cutting and polishing take place in producer countries? What will this mean for the current centers of cutting and polishing? Will these changes affect the location of world’s diamond trading centers? Will there be any impact on diamond retailing?
A financial panel, headed by Paul C. Goris, chairman of Antwerp Diamond Bank, will discuss the question whether a rapidly changing and volatile industry is likely to make the banks more cautious about funding diamond trading.
The conference will be addressed by the former Lord Mayor of London Sir David Brewer, who has been intimately involved in the evolution of that city as a major trading centre for the financial services industry.
The discussion will continue by focusing on the implications for diamond and jewelry retailing. The conference will also be addressed by Dr. Karel Kovanda, the chairmain of the Kimberley Process.
The keynote speech at the conference gala dinner will be given by Bob Geldof, one of the most famous persons in the world in communicating development issues publicly. Geldof is renowned for his direct communication and has the power to influence the thinking of millions of young people around the world.
This forum will be an invaluable opportunity for all players in the diamond industry to gain insight and engage in the future of their industry. The Antwerp World Diamond Centre has taken the lead to bring together such a diverse group of stakeholders from around the world to directly discuss the most important issue facing this industry.
The conference will form the main part of AWDC’s wider drive to bring together all the industry’s key stakeholders. However, two events have been organized to further engage the industry. Hours after the close of the conference South Africa will organize a road show and the next day China will organize a business event to reach out to Antwerp diamantaires.
Further information, including registration for those who wish to attend, is at www.antwerpdiamondconference.be.
The Antwerp World Diamond Centre (AWDC) is the official representative of the Belgian diamond sector, and in this capacity is charged with managing the relationship between the diamond sector and government, and promoting the interests of the Belgian diamond industry worldwide.
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Tags:
Alrosa, Angola, Antwerp Diamond Bank, Antwerp World Diamond Centre (AWDC), AWDC, Banks, Belgium, BHP Billiton, China, De Beers, Government, HRD, Jewelry, Kimberley Process, Mining Companies, Polishing, Production, Rio Tinto, Russia, South Africa
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