Chair of the Kimberley Process (KP) from the UAE Ahmed Bin Sulayem (Ahmed Bin Sulayem) visited Armenia for talks with President Serzh Sargsyan. Bin Sulayem also addressed the annual congress of the World Jewelery Confederation (CIBJO) on 26 October.
"For decades, the sector of Armenia precious metals known for their high quality and reputation, and as one of the first members of the CP country for many years played a key role in strengthening the global initiative - said Bin Sulayem -. I had the honor to meet with President Sargsyan and discuss with it the development of the diamond industry in Armenia, as well as how the country can continue to play a deeper role in the KP. over the past year we have worked hard to attract many participants in the KP because we firmly We believe that there is still much that can be done to increase the viability of the initiative in order to increase its value to all participants. "
In his address to the Congress of the World Jewelery Confederation Bin Sulayem addressed to leading personas, organizations and companies in the industry of precious stones and jewelry, as well as spoke about the importance of Armenia for the diamond industry and the important role the country plays in supporting KP's mandate.
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The diamond industry is at a crossroads, and there are powerful forces that can lead to changes in the industry, warns ABN AMRO in a recent analyst report, "Nothing lasts forever," says Diamond World News Service.
ReplyDeleteIn the near future the industry may witness structural changes that could result in the emergence of a shorter supply chain, warn the report's authors. Two important factors that could significantly affect the industry in the coming years - this is the price competition and more widely recognized lab-grown or synthetic diamonds, reports continue to Diamond World.
A report containing a recommendation to take advantage of changes in the industry and to be open to such a large-scale adjustments, rather than resist change, connects the current crisis with relatively high prices for rough diamonds compared with the prices of diamonds and low demand from consumers.
The report predicts that the consolidation that will occur in the middle segment of the industry (from the cutters) because of problems with liquidity and credit combined with the accumulation of inventories, will reduce the volume of rough diamond purchases.
In the ABN AMRO report also addresses the synthetic diamond market growth, because of which, as the authors of the report warn, increase diamond supply general and intensify pressure on the market of natural diamonds.