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WFDB to introduce polished-diamonds price list

November 16, 2009

Antwerp, Belgium--The highlight of the World Federation of Diamond Bourses (WFDB) 2009 Presidents' Meeting will be the introduction of a WFDB price list for polished diamonds.

According to a news release, the focus of the meeting, which is taking place now through Wednesday in Antwerp, Belgium, is consumer confidence, and developing a price list is one way the trade can increase that, WFDB President Avi Paz said in the release.

"While I am committed to keep the specific details under wraps until the actual announcement during the Presidents' Meeting, I can say that this brand-new price list will be supported throughout and by the entire supply chain of polished diamonds, from manufacturers to retailers, and in particular, by consumers," Paz said in the release. "As you know, the WFDB's slogan is 'Tradition, Integrity, Accountability.' As the guardians of the international diamond trade, it is our task to develop tools that will increase consumer confidence in our luxury product, the polished diamond. I assure you that the measures that we will introduce at the upcoming meeting will be instrumental in advancing consumer confidence in diamond and diamond jewelry throughout what we often call the diamond supply pipeline."

The presidents of the 28 bourses worldwide that belong to the WFDB are slated to attend this week's meeting in Antwerp, which is also the meeting of its sister organization, the International Diamond Manufacturers Association.

Paz noted in the release that even though the WFDB's membership is spread out over five continents, everyone is impacted by the global economic slowdown, which has resulted in consumers spending less on jewelry.

The trade needs to work together, he said, to figure out what the diamond and diamond jewelry business needs to do to protect, retain and even increase its traditional market share in the luxury product market.

To view the Presidents' Meeting program, visit PresidentsMeeting2009.com.
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