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Antwerp Affirms Alliance with Russian Diamond Industry

Mar 13, 2014 5:41 AM   By AWDC
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Press Release: On Wednesday evening, a delegation of the Antwerp World Diamond Centre (AWDC) and representatives of no less than 35 Antwerp diamond companies met with a delegation of the Gokhran, the Russian State Precious Metals and Gems Repository, ALROSA’s top management and other stakeholders of the Russian diamond industry, during an exclusive Antwerp Diamond Night at the Belgian Embassy in Moscow.

The exclusive networking event, organized by AWDC, was the perfect opportunity for both long-term clients and other Belgian companies to benefit from the strategic partnership between the world's largest diamond-mining country, represented by members of the Russian State Precious Metals and Gems Repository, Gokhran, ALROSA management, and the industry’s foremost diamond trading hub, Antwerp. The event was hosted by the Belgian Ambassador to the Russian Federation, His Excellency Alex Van Meeuwen and attended by AWDC's president, Stéphane Fischler, its vice president, Kaushik Mehta, and board director, Ramesh Patel.

Over the past few years, the Russian-Antwerp relationship has been thriving. In terms of imports, Russia remains one of the most important suppliers of rough diamonds for Antwerp; in 2013 Antwerp imported from Russia an impressive 22.8 million carats, representing 25 percent of all Antwerp rough imports and equaling a value of $2.8 billion. On average, more than 50 percent of rough diamonds from ALROSA are traded in Antwerp, home to the largest concentration of ALROSA’s long-term agreement clients.

Just a few months ago, ALROSA signed a new cooperation agreement with the AWDC that further formalized their cooperation over the next three years. The agreement included the intention for both parties to contribute to the development of a competitive rough and polished diamond market in Russia and to  promote rough sales in Antwerp, a formalized exchange of information and knowledge on various facets of the industry and educational opportunities.

Further complementing the excellent trade relations, is a memorandum of understanding signed during this Antwerp Diamond Night by Fischler and Andrei Yurin, the head of Gokhran. The agreement commits both parties to exchange market information, knowledge and technology and to work more closely toward their common goal of strengthening the reputation of the natural diamonds market.

About AWDC
AWDC, short for Antwerp World Diamond Centre, is the coordinating body and the official representative of the Antwerp diamond sector, and as such is recognized internationally as the host, spokesperson and intermediary for the Belgian diamond community. Eighty-four percent of all rough diamonds and 50 percent of all polished diamonds pass through Antwerp. Diamonds represent 5 percent of the total Belgian exports and 15 percent of all Belgian exports outside the E.U., making diamonds the most important export product outside the E.U.

Rapaport News is not responsible for, and does not endorse, the content of any third-party press release. This is not a Rapaport Press Release. It has been provided as additional information for our clients.
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