Jun 17, 2015

2015 Presidents’ Meeting Ends; Committees to Formulate Proposals on Key Challenges

The three-day Presidents’ Meeting of WFDB-IDMA concluded at Tel Aviv yesterday with WFDB President Ernie Blom stating that “we have achieved a great deal in precisely identifying the challenges that face us, and what we need to do to overcome them”.

Addressing the media at the conclusion of the event, Blom said, “We have put processes in motion and a number of committees will look at them in great depth and report back with proposals for how to deal with them."

The WFDB President identified the key issues on which highly intensive and in-depth discussions were held as -- the lack of profitability, banking and finance, synthetics and overgrading.

IDE President Shmuel Schnitzer also told the press that profitablity was identified as the crucial issue facing the industry, with bankability and financing being the next most important challenge. He added, “We also had lengthy discussions about the issue of overgrading and the recent color treated diamonds discovered by the GIA in Israel, and also debated the issue of price lists and how we can bring about consultation regarding changes in the Rap List."

Blom also thanked IDE, the hosts for doing “a fantastic job in creating a wonderful atmosphere and social events that allowed us to network and create new relationships, as well as renewing bonds with colleagues, and that is also an important element of such gatherings”.

He added that the delegates had a very interesting discussion with the Israeli PM Netanyahu at the dinner he hosted for them, and said that the PM had assured full support to the diamond industry.

Pic Caption: Addressing the press at the conclusion of the 2015 Presidents’ Meeting (ml) IDE President Shmuel Schnitzer, WFDB President Ernie Blom, IDMA President Maxim Shkadov, and IsDMAPresident Kobi Korn.