The presidents of World Federation of Diamond Bourses (WFDB) affiliated exchanges worldwide are making preparations ahead of the 2015 Presidents Meeting in Tel Aviv set to take place from June 14 to 16. WFDB President Ernie Blom says the bi-annual gathering of the presidents of the organization's 30 bourses will be one of the most important ever held in light of the issues facing the global diamond trade.

"Rarely have we had to deal with so many challenges and so it is critical that all the bourse presidents attend to present their particular perspective and to hear the input from their colleagues across the globe," Blom said. "At the WFDB, we are totally focused on the problems that our members are facing, and gatherings such as the June meeting present us with an ideal opportunity to discuss what moves we can take to try to resolve them satisfactorily.

"The shortage of industry financing and declining profitability is undoubtedly the most pressing issue that our members – who are the heart and soul of the diamond industry – and so we must come together to ensure that industry stakeholders are fully aware of the need to help us find solutions and discuss ways forward.

"In addition, there is the issue of undisclosed synthetic diamonds. How large is this problem and is identification of such stones successful? And there is another ongoing issue which the WFDB is fully committed to bringing to success. That is the World Diamond Mark (WDM) which the WFDB launched in 2012 to promote consumer desire for, and confidence in, diamonds, and we are putting all our weight behind it because we believe it is critical for the health and the future of the diamond industry. The WDM was founded on the idea that sales of diamonds and diamond jewelry can and must perform significantly better in the luxury product consumer market."

"The Israel Diamond Exchange, which is organizing the Presidents Meeting, has kept us fully informed about preparations, and we know it is going to be an extremely interesting event set against a wonderful background. I look forward to seeing our Presidents in Tel Aviv and also the Presidents of the national associations of the International Diamond Manufacturing Association," Blom added.