The Executive Committee of the World Federation of Diamond Bourses (WFDB), at its meeting held recently, accepted a proposal from ALROSA to hold the 2018 Asian Summit in Russia. 

ALROSA has proposed that the summit be held at Vladivostok; where the Company recently established the Eurasian Diamond Trading Centre at the Vladivostok Free Trade Zone.

The WFDB also decided that the Moscow Diamond Bourse (MDB), the official representative of the Russian Federation in the WFDB since 2006, will be the coordinator for the summit.

The Asian Summit of the WFDB is a meeting ground for the heads of diamond exchanges from the Asia-Pacific region.

“ALROSA and WFDB have a long-standing partnership, including cooperation in the framework of the World Diamond Council, representing the diamond industry in the Kimberley Process,” ALROSA noted while making the announcement.

"The Asia-Pacific region is not only one of the main centres of diamond cutting and trading, but also a growing consumer market,” said the WFDB President Ernest Blom. “We are excited to see the development of this region, and appreciate the efforts of ALROSA and the Russian government on the creation of the new diamond trading hub. I hope that the WFDB Asian summit in Vladivostok will contribute to strengthening cooperation between the countries and will serve the further development of our industry.”

ALROSA president Sergey Ivanov commented: "The Russian Far East is developing rapidly, gradually becoming a new trading hub for rough and polished diamonds. Last year we successfully launched the Eurasian Diamond Centre in Vladivostok, which is now actively engaged in trade with Asian countries. Therefore, we are pleased to invite the WFDB to hold the annual Asian summit in Vladivostok next year, to share experience and business practices, and to discuss opportunities of further development of the diamond market.”