Antwerp Bids to Break Dubai Monopoly on Angola's Diamonds
May 12, 21
(IDEX Online) - A delegation of Antwerp diamond bosses has visited Angola, in a bid to break Dubai's near monopoly on its stones.
Twenty CEOs took part in a two-day trade mission to the capital Luanda, organized by the Antwerp World Diamond Centre (AWDC) and the Belgian Embassy.
They were seeking closer working links with Angola, currently the world's sixth biggest diamond producer.
But local media are suggesting report a less than enthusiastic response.
Africainteligence.com said: "Angola did not respond warmly to the arguments put forward by a delegation of diamond industry leaders from Antwerp, who travelled to Luanda to persuade João Lourenço to end Dubai's virtual monopoly over the country's diamond production."
It has reported in the past on "Dubai's stranglehold on Angolan stones".
Chaim Pluczenik, AWDC president said: "As the world's largest and most transparent diamond trade hub, Antwerp is fully aligned with President Lourenço's reforms to increase transparency but also to create added value for the diamond industry here in Angola."
He said 86 per cent of the world's diamonds were traded in Antwerp, making it the industry's global leader.
Pic shows (left) Chaim Pluczenik, AWDC president, with Diamantino Azevedo, Angola's minister of mineral resources, petroleum and gas.