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Dubai’s Flourishing Diamond Trade Highlighted at WFDB Presidents’ Meeting

The 2011 Presidents’ Meeting of the World Federation of Diamond Bourses, held in Dubai for the first time, served to highlight the UAE’s flourishing diamond trade, which WFDB President Avi Paz called a “fast-growing diamond trading center and distribution hub.”

At the opening session, Governor of the Central Bank of the UAE Sultan bin Nasser al Suwaidi offered an overview of how the UAE had handled the global economic crisis. Diamond industry analyst Chaim Even Zohar discussed the past, present, and projected supply pipeline for both rough and polished diamonds, and Paz spoke about the WFDB’s role in the global diamond industry, stressing the challenges presented by the Kimberley Process Certification Scheme.

Paz said that the WFDB had played a part in demonstrating that the Kimberley Process is strong and can be enforced.

This year’s Presidents’ Meeting also hosted the first-ever African Leaders Summit, a special forum in which mining and government officials from Africa’s key diamond producing nations took part. Participants in the African Leaders Summit included the Democratic Republic of Congo’s Martin Kabwelulu Labilo; Susan Shabangu from South Africa and Angola’s Joaquim Duarte da Costa David – as well as a delegation from Zimbabwe headed by Mines and Mining Development Minister Obert Mpofu.

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