ALROSA and AWDC signed a new cooperation agreement
On April 24, ALROSA, the world leader in diamond mining, and Antwerp World Diamond Centre (AWDC) signed a new extended cooperation agreement in Moscow. The agreement continues positive cooperation experience between the parties and expands bilateral interaction in line with new challenges of the market.
ALROSA CEO Sergey Ivanov and AWDС CEO Ari Epstein signed the new agreement. The official ceremony was held in the presence of Bart de Wever, Mayor of Antwerp, and Jean-Arthur Regibeau, Ambassador of the Kingdom of Belgium to Russia.
The aim of the three-year agreement is to improve the scope and efficiency of ties between ALROSA and AWDC. Among other things, it assumes that the companies will keep exchanging information on the diamond market.
The parties also agreed on joint promotion of marketing initiatives, including generic marketing to maintain the value of diamonds as a category and stimulate consumer demand. AWDC will support the efforts of ALROSA that are done together with other members of the Diamond Producers Association (DPA). ALROSA and AWDC will likewise support each other in promoting their own initiatives.
ALROSA and AWDC will pay great attention to the problem of illegal penetration of synthetic stones into the trade of rough and polished diamonds.The parties agreed to jointly promote and protect the procedure of differentiation in rough diamonds and synthetic stones, including support of industry initiatives. AWDC will also allow for comprehensive check-ups and support the promotion of detection devices for synthetic stones, including Diamond Inspector, the technology developed by ALROSA.
The parties will also continue close collaboration within the World Diamond Council (WDC) to complete the reform of the WDC's System of Warranties, and supporting the WDC as an industry representative in the Kimberley Process.
"Belgium is the world's largest diamond trading center and ALROSA's largest trade partner. In 2017 alone, ALROSA supplied rough diamonds worth over USD 2 billion to companies in Belgium. ALROSA has 55 long-term clients who buy gem-quality rough diamonds, and 21 of them are companies from Belgium. That is why we are interested in the cooperation with this market and its industry organizations. AWDC is ALROSA's long-standing and reliable partner with vast experience, and I am confident that the new agreement will allow us to further strengthen our cooperation and aim our joint efforts at the development of the industry," said ALROSA CEO Sergey Ivanov.
"ALROSA and AWDC have been working together for more than 15 years. ALROSA today is the world's largest rough diamond supplier, accounting for 31% of diamond trade in Antwerp by volume and 21% by value. We set a high value on the existing collaborative experience with the Russian party and with ALROSA, and we will strive to further strengthen our cooperation and work together for the development of diamond markets in Russia and Belgium," said AWDC CEO Ari Epstein.