The annual Presidents’ Meeting for 2024, organized by the World Federation of Diamond Bourses (WFDB), recently concluded in Shanghai, China. Over three days, industry leaders addressed critical issues such as G7 restrictions, synthetic diamonds, and challenges in the Chinese market through panel discussions, speeches, and collaborative sessions.

Hosted at the newly inaugurated Shangrila Hotel in Pudong, the meeting saw participation from bourse Presidents worldwide alongside esteemed Chinese dignitaries including Shanghai Vice Mayor Hua Yuan and Party Secretary of Pudong, Zhu Zhisong. Notable attendees also included representatives from Angola's Ministry of Mines and Endiama, as well as delegates from Namibia.

A significant takeaway from the deliberations was the consensus on the imperative for unified action among industry bodies to confront prevailing challenges. Under the leadership of President Yoram Dvash, the WFDB has spearheaded initiatives like the recent joint letter to the G7, which garnered support from organizations such as the WDC, GJEPC, and IDMA.

Furthermore, WFDB leaders engaged in constructive dialogues with Chinese authorities and prominent corporations, advocating for substantial investments in targeted marketing campaigns to invigorate the Chinese market. This proactive approach received favorable reception from the Chinese counterparts.

Distinguished speakers at the event included Ye Zhibin, Chairman of China Gem & Jewelry Association; Kent Wong, Managing Director of Chow Tai Fook; Ahmed Bin Sulayem, Chairman of the Kimberley Process and ECCEO DMCC; Feriel Zerouki, Chairman of the World Diamond Council; Marcus Lung, Associate Director of De Beers; David Block, CEO of Sarine; Sissi Xu, CEO of Natural Diamond Council in China; Mahiar Borhanjoo, Chairman of Uni Diamonds; and industry analyst Avi Krawitz.