| Dear Friends, As we come to the end of a particularly challenging year for the global diamond industry, I would like to pause for a moment, look back and, most importantly, look ahead. There is no doubt that the past year has presented us with a complex reality: slowing demand, geopolitical pressures, regulatory changes, market volatility and significant challenges in the natural diamond value chain. Many of you have experienced this directly in your businesses, and sometimes on a personal level. At the same time, the history of the diamond industry teaches us one clear truth: it is an industry that knows how to cope, adapt and renew itself. The natural diamond, as a symbol of value, reliability, tradition and continuity, has proven time and again its resilience even in much more difficult times. Over the past year, the World Federation of Diamond Bourses has continued to work resolutely on behalf of its members: strengthening cooperation between bourses, promoting dialogue with regulatory and international bodies, upholding the values of ethics and trust, and supporting the status of natural diamonds in the global market. As part of the effort to facilitate international trade, we hope to see additional countries receive zero tariffs on exports to the US, which could significantly contribute to a freer and fairer flow of natural diamonds in the world. We enter the New Year cautiously, but also with faith. The first signs of market adjustments, stabilization in supply, and renewed interest from the end consumer give us not only hope but responsibility. Responsibility to continue to work together, with transparency, cooperation, and responsible leadership. I would like to thank each and every one of you, the presidents of the bourses, boards, members, and partners, for the commitment, unity, and professional spirit that you bring with you even in challenging times. I wish us all a year of health, stability, cooperation and new opportunities, and believe that together we will continue to strengthen the status of the natural diamond industry for generations to come. Best regards, Yoram Dvash |
