WFDB lauds Luanda Accord
The Luanda Accord would fund the promotion of natural diamonds
Photo by Bloomberg
Association the World Federation of Diamond Bourses has expressed its full support for the Luanda Accord, the agreement reached among major diamond-producing countries and trading centres to fund the promotion of natural diamonds.
The agreement was reached during a meeting held in Luanda, Angola, last week.
All the signing parties have agreed to contribute 1% of the yearly revenue they generate from rough diamonds to the Natural Diamond Council’s promotion budget.
The accord was signed by Botswana, Angola, Sierra Leone, Namibia, South Africa, the Democratic Republic of Congo, the Antwerp World Diamond Centre, the African Diamond Producers Association, the Dubai Multi Commodities Centre (DMCC) and India’s Gem and Jewellery Export Promotion Council.
The Luanda Accord was signed a week after the WFDB Presidents’ Meeting in New York, where all parties agreed that it was imperative for the industry to join together to take action to support natural diamonds.
Many of the parties to the Luanda Accord were represented at the WFDB meeting, which was headlined by Botswana President Duma Boko, and included Botswana Minerals and Energy Minister Bogolo Kenewendo, Angola Mineral Resources, Oil and Gas Minister Diamantino Azevedo, De Beers CEO Al Cook, DMCC executive chairperson Ahmed Bin Sulayem and others.
At the meeting, the WFDB revealed its natural diamond video campaign and called on industry members to share the videos on social media.
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