RAPAPORT... Singapore will host the 36th annual World Diamond Congress in 2014, the World Federation of Diamond Bourses (WFDB) announced.
“Singapore is an important gateway to the Asian market, in particular to markets such as Malaysia and Indonesia which are the next potential growth markets for diamonds and diamond jewelry,” said WFDB president Avi Paz.
Paz noted that members of the Diamond Exchange of Singapore (DES) have made a significant contribution to the development of new diamond markets over the past decade, helping to increase the volume of business in Singapore and at other bourses.
DES president Suresh Hathiramani added that the bourse was hoping to raise Singapore’s profile by hosting the congress there. “While our exchange's membership is small compared to that of other bourses, our role as a diamond distribution hub is important in this part of Asia,” he explained. “Our members serve those markets that are beyond the horizon of most other bourses. As such, we are the face of the diamond trade.”
Hathiramani was appointed chairman of the WFDB’s trade and promotion committee, replacing Freddy Hager who passed away in April.