(IDEX Online News) – Russian diamond mining monopoly Alrosa has signed a three-year cooperation agreement with the Antwerp World Diamond Centre (AWDC).

 

The agreement aims "to improve the efficiency of cooperation between AWDC and Alrosa over the next three years and includes the intention for both parties to contribute to the development of a competitive rough and polished diamond market in Russia and the promotion of Russian diamond production on the Belgian market".

 

The official signing ceremony took place on December 1 in Antwerp, and the document was signed by the Alrosa President Fyodor Andreev and AWDC President Stephane Fischler.

 

The agreement also calls for Alrosa and the Antwerp diamond sector to work more closely and exchange expertise and information regarding the implementation of the Kimberley Process Certification Scheme.

 

"In addition, both parties commit to exchange information, such as market intelligence, and inform each other on industry events, such as seminars and conferences, the development of new technologies or market opportunities. The cooperation also provides an opportunity to set up diamond grading and sorting courses for Russian students at HRD Antwerp."

 

Andreev and members of the company's management also held annual meetings with long-term customers in Antwerp to discuss the preliminary results of 2013 and current diamond market trends.

 

"The long-term customers emphasized the necessity of generic marketing efforts aimed to stimulate diamond jewelry demand, as well as the necessity of a clear regulation framework to deal with synthetic diamonds."

 

The meeting participants discussed long-term sales agreements, and "noted positive changes in sales procedure transparency and unified conditions of access to rough diamonds".

 

The sides agreed that demand for rough diamonds is gradually recovering after weakening in the middle of this year. "Market experts assume that growing demand for polished diamonds and a decrease in world diamond supply will be the fundamental growth drivers for rough diamond prices in the medium term, despite volatility in the rough diamond market seen in recent years."