ALROSA’s Zharkov Emphasises Need to Stabilize Market at EEF

(IDEX Online News) – As part of the Eastern Economic Forum (EEF) in Vladivostok, ALROSA hosted a session on “New Development Drivers of Global Diamond Business in Asia Pacific.”

The session discussed the current condition and prospects for further development of the global diamond market, the potential of new jewelry consumer markets, including Russia, measures to stimulate consumer demand and how to promote demand for polished diamonds.

Among the speakers, ALROSA president Andrey Zharkov said that within the existing circumstances it is necessary to uphold responsible and balanced position aimed at stabilizing market situation.

Ernie Blom, president of the World Federation of Diamond Bourses, said participants discussed the reasons for the global diamond and jewelry market slowdown and the impact of macroeconomic factors, the problems of industry financing, manufacturing business profitability and how to generate demand for diamond jewelry."

“It was extremely interesting and worthwhile to have this debate. Although these are major issues for which we have been battling to find solutions for some time, it was important to listen to the views of people from across the diamond pipeline and debate the themes," he said.

Another speaker, Alex Popov presented the viewpoint of the World Diamond Mark (WDM) and updated participants on the work of the WDM in creating generic diamond promotional events and enabling retailers to improve their service, and sales, to diamond jewelry consumers.