The following is a press release issued by the IDMA at the conclusion of the World Diamond Congress on June 29:
The general assembly of the International Diamond Manufacturers Association (IDMA,) which represents 12 diamond manufacturers associations in 11 countries, has concluded its meetings at the World Diamond Congress in Tel Aviv, which was held June 26-29. The gathering focused specifically on issues that influence the position of manufacturers in the diamond business, and more generally on measures necessary to enhance consumer confidence in diamonds.
The IDMA general assembly unanimously re-elected Jeffrey Fischer for a second term as president. Also elected were vice presidents Eduard Denckens, Belgium; Moti Ganz, Israel; Maxim Shkadov, Russia; and Vasant Mehta, India. Stephane Fischler was re-confirmed as IDMA secretary general and treasurer for a fifth term.
A very frank and informal discussion was conducted with Varda Shine, managing director of the Diamond Trading Company (DTC.) The IDMA’s leadership suggested that the DTC remind its clients that meeting their financial obligations to the trade is an integral part of best practice principles. It was also decided that IDMA’s secretary general will contact all other producers to convey the same message.
During a session on laboratories, the Gemological Instistitue of America (GIA) gave the first ever preview of the organization’s grading report for synthetic diamonds, which can be differentiated easily from reports issued for natural diamonds. Pointed discussions followed with the GIA, IGI, HRD, GCAL, and EGL about synthetics grading and nomenclature.
Also on the agenda was, establishing a process whereby a minimum standard would be set for diamond grading laboratories to be recognized as such by the trade. A committee was formed under the auspices of the International Diamond Council (IDC,) which is charged with initiating a discussion with all the grading labs to define and harmonize such standards. IDMA reminded each lab of their commitment to maintaining consumer confidence.
During a presentation by Michael Rae, CEO of the Council for Responsible Jewellery Practices (CRJP,) IDMA was invited to adopt a consultative role in helping the organization develop their policies and procedures, with a view of eventually joining as a full member. IDMA voted to participate in this capacity.
Industry analyst Chaim Even Zohar led a discussion on anti-money laundering procedures, during which, ways to improve the practical implementation of anti-money laundering practices throughout the industry were reviewed.
The president also stressed IDMA’s commitment to the Kimberley Process and its system of warranties.
IDMA’s Ben Kinzler and Martin Rapaport, chairman of the Rapaport Group of companies, gave a report on the Diamond Development Initiative (DDI,) which aims to improve the lives of artisanal diggers. IDMA reiterated its commitment to the efforts of DDI and pledged its continued support and active participation in this ambitious, essential and humanitarian initiative.
The Canadian Manufacturing Association (CDMA,) which had applied to become IDMA’s 13th member organization, participated as an observer pending full membership at the next congress.
The IDMA general assembly voiced its support to a proposal that the 33rd World Diamond Congress take place in Moscow in 2010. The 2007 Presidents Meeting will take place in Amsterdam.
The IDMA membership congratulated the organizers of the 32nd World Diamond Congress for an outstanding event.