DiamondBuzz
Israel Diamond Exchange quits WFDB amid tariff dispute
The Israel Diamond Exchange (IDE) has suspended its membership in the World Federation of Diamond Bourses (WFDB), citing dissatisfaction with the organisation’s conduct during the ongoing US import tariff crisis, Rapaport News reported.
In a letter to WFDB Secretary-General Rony Unterman on 8th April, the IDE board said the decision followed unanswered requests for information and actions that had harmed Israel’s diamond trade. IDE President Nissim Zuaretz told Rapaport the move was triggered by WFDB President Yoram Dvash’s comments in Calcalist, where he criticised country-specific lobbying and promoted a global strategy for tariff exemptions.
Zuaretz accused Dvash of trying to take credit for advocacy led by the World Diamond Council (WDC), potentially jeopardising Israel’s own efforts. Dvash denied the claims, telling Rapaport they were “untrue and frankly absurd,” and emphasised the WFDB’s ongoing collaboration with the WDC.
Zuaretz said the IDE would shift focus to partnerships with the WDC and the International Diamond Manufacturers Association (IDMA), while also saving over $29,000 in annual fees. Dvash described IDE’s withdrawal as “rash,” warning it could weaken global unity at a critical time for the industry.
DiamondBuzz
QDE, Borsa Diamanti D’Italia Signed MoU To Bolster Trade and Expand Commercial Ties
The Two Exchanges Will Establish A Framework To Deepen Connection Across Their Respective Memberships, Exchange Invitations To Industry Events
The Qatar Diamond Exchange (QDE) has signed a memorandum of understanding with the Borsa Diamanti d’Italia to bolster trade and expand commercial ties between their members, , marking its first strategic alliance with a European bourse.
The agreement was signed by QDE Director Ghanim Nasser Al-Saadi and Italian Diamond Exchange President Luigi Cosma during the World Jewellery Confederation’s (CIBJO) 100th anniversary event in Vicenza, Italy.
Under the terms of the deal, the two exchanges will establish a framework to deepen connection across their respective memberships, exchange invitations to industry events, and facilitate access to tenders, auctions, and viewings through reciprocal visits.
The partnership also aims to boost consumer confidence in natural diamonds and colored gemstones by reinforcing compliance with global sector standards, including guidelines set by the Responsible Jewellery Council (RJC) and the World Diamond Council’s (WDC) System of Warranties.
The deal follows similar pacts signed by the QDE last month with diamond bourses in Singapore, Shanghai, and Tokyo as part of an effort to broaden its global trading network.
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