The highlight of the recently concluded meeting of the Executive Committee of the World Federation of Diamond Bourses (WFDB) EXCO was an “extensive strategy session to analyse, discuss and decide on its future mission across the growing, global diamond trade,” a press release of the WFDB stated.

The session discussed and debated a wide range of views and perspectives based on a SWOT analysis of the organisation.

“The result of the discussion encompassed a wide-ranging output of agreed WFDB priorities including the internal diamond ecosystem of banking, profitability, compliance, certificates, shipping, disciplinary measures and the WFDB support for generic marketing and global diamond promotion through the World Diamond Mark,” WFDB said.

During the three-day programme, meetings were also held with representatives of banks and mining companies. At these, the WFDB Executive Committee  reiterated its commitment to the highest ethical standards and professional competence, throughout the trade.

“The WFDB has agreed to immediately broaden and deepen its ongoing dialogue and cooperation with all key stakeholders in the international diamond trade,” said WFDB's President, Ernie Blom, in summing up the strategy session. “The WFDB believes strongly in a profitable, expanding and respected global diamond business that will maintain its place in the world of luxury goods with diamond as a benchmark product that delights, dazzles and brings pleasure to many millions of consumers around the world.”

The WFDB has as its members 30 international diamond bourses that, effectively, account for at least 95 per cent of the world’s diamond trade.