Dubai, March 23, 2004: The Dubai Metals and Commodities Centre (DMCC), hosts of the forthcoming 3rd Annual Meetings of the World Diamond Council (WDC), has reported that the two-day meetings will focus on the development of the diamond industry, the Kimberley Process, and banker’s perspectives of the diamond trade.
 
Presenting the chairman’s report will be Eli Izhakoff, WDC Chairman. Nicky Oppenheimer, Chairman of the De Beers Group of Companies and guest speaker will discuss the development of the industry. The role of the banking sector will be moderated by Peter Gross, Senior Vice President and General Manager, ABN AMRO (International Division), Belgium, and will involve participation from a cross-section of international banks focused on services to the global diamond industry.
 
Leading discussions on the Kimberley Process (KP) certification scheme will be the Chairman of the KP, Tim Martin supported by His Excellency Viatcheslav Shtyrov, President, Sakha Republic (Yakutia) along with Abbey Chikane, immediate past Chairman of the KP.  Also covered will be a session on NGO’s perspectives, which will provide details on how this initiative is making a positive difference to the lives of those who are affected by the trade of conflict diamonds.
 
"Our campaign to eliminate the conflict diamonds is a complex global challenge. We must have an international framework allowing all nations involved to coordinate their efforts ensuring that there is an effective and credible monitoring system in place. That includes countries in which diamonds are extracted, those in which stones are processed and major polished diamond importing countries, added Mr. Izhakoff.
 
Over 100 diamond leading industry executives from around the globe have confirmed their participation at the meetings including industry associations such as the World Federation of Diamond Bourses (WFDB), the International Diamond Manufacturing Association (IDMA) and World Jewellery Confederation (CIBJO).  Leaders of international certification associations such as the Gemological Institute of America (GIA), Antwerp Diamond High Council (HRD), International Gemological Institute (IGI) and EGL USA will also be present. Other key participants include heads of international diamond exchanges and completing the value chain of the industry are senior representatives of the producing companies to include De Beers, Al Rosa, BHP Billiton Diamonds and Rio Tinto. 
 
The WDC meetings are being held under the patronage of His Highness General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Minister of Defense, and will be hosted by DMCC on March 30 and 31, 2004. 
 
“The entire value chain of the diamond industry will be represented at the WDC meetings, from producers, processors, distributors and industry-specific associations. The Dubai meetings are set to be a major success story. The profile of the attendees promises active sessions and interaction between our industry’s leading representatives. The meetings will also play a part in highlighting Dubai’s place as an emerging global diamond centre. This city has demonstrated the perfect combination of vision, purpose and a strong commitment to innovation and business development that is second to none – we look forward to our meetings and we are working closely with DMCC going forward,” said Mr. Izhakoff.
 
The Dubai Metals and Commodities Centre (DMCC) was created in 2002 as part of a strategic goal by the Dubai Government to establish a commodity market. It provides the market infrastructure that brings together a wide range of commodities activities, and is committed to serve the needs of participants in the gold, diamonds and commodities markets. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment.
 
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Notes to Editors
About the WDC
The World Diamond Council was created three years ago amid growing concern over human rights violations and atrocities committed against innocent victims in diamond producing countries of war-torn Northern Africa. During a meeting between the World Federation of Diamond Bourses and the International Diamond Manufacturers Association in Antwerp in July 2000, a resolution was passed creating the World Diamond Council.
 
The WDC’s responsibility is to oversee the export and import of rough diamonds to prevent the exploitation of diamonds for illicit purposes such as war and inhumane acts. As a result of the commitment and resolve of WDC leaders and members, significant strides have been made towards resolving and reconciling the issues threatening the diamond industry because of ‘conflicts’.
 
For further information on DMCC, please contact
Deborah Cleary,
Account Director,
Bates PanGulf PR,
+971 50 4582284,
e-mail Deborah@batespangulf.com

© Press Release 2004