The recovery of the global diamond industry is already taking place, but this process will not be quick - this is the main conclusion reached by the 2009 Antwerp Diamond Symposium participants, who finished work in Belgian Antwerp the day before. The Symposium was the last in a series of conferences organized by the Antwerp World Diamond Center to analyze the state of the global diamond industry and discuss its prospects.

This year the topic of the symposium was "Diamond Industry in the New Economy". The discussion was attended by leading industry experts and representatives of the sectors related to the diamond industry. They exchanged views on the state of business and markets during the period when the world economy recovered after the global financial and economic crisis. As noted in the forum's conclusions, after one of the most difficult years that the global diamond industry has ever experienced, 2010 is likely to be a year of growth for it.

According to the head of the Antwerp World Diamond Center Freddy J. Hanard, the actors of the diamond market need to act today, predicting the situation and its consequences - this is the key to success. In this regard, the current symposium has become another contribution to understanding how to move ahead in the changing business environment as a result of the global financial and economic crisis. "I have no doubt that the various ideas delivered through this symposium will be put into practice in the coming months," Hanard said.

The forum participants stated that, despite the extremely difficult conditions in which the industry was in the last 18 months, the number of bankruptcies among its subjects did not exceed the level predicted in the pre-crisis period.

Ensuring market stability was the result of the policy of diamond mining companies that reduced production and "frozen" diamond sales during the first half of this year, as well as banks that retained the level of lending to the diamond industry.

Participants in the 2009 Antwerp Diamond Symposium also expressed their concern over the 30% increase in prices for rough diamonds over the past six months, despite the fact that there was no growth in the average price of polished diamonds. In this regard, the experts who spoke spoke of the danger of creating a new speculative price bubble.

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