Honourable Minister Kenewendo,
Your Excellency, Janio Corrêa Victor,
Your Excellencies,
Fellow Presidents of our member bourses,
Distinguished guests,
Dear friends and colleagues,
Good morning to you all.
It is a privilege to be with you today as I conclude my term as President of the World Federation of Diamond Bourses.
When I entered office, I believed that the primary role of the President of the Federation was not only to manage an organisation, but to bring people together.
Over the past six years, our industry has lived through one of the most challenging periods in history.
The COVID-19 pandemic, wars, economic crises, international sanctions, a sharp decline in demand for natural diamonds, and the rise of synthetic diamonds.
The world around us changed very quickly.
In such times, it is easy for everyone to think only about themselves.
But during this period, we succeeded in keeping the Federation united.
We did not always agree.
With 25 presidents, all leaders who are committed to protecting their own bourse and industry, there was always passion.
Behind the scenes, we reduced the flames. We listened to each other, we respected each other, and we always found a solution.
We always came back to the same table.
And we remembered that we all belong to the same industry, and that what is good for the industry is more important than what is good for any one of us.
For me, this is the greatest achievement of the past six years.
Not one project and not one decision.
But keeping the Federation united, and even growing the Federation, during a time when the world changed beyond recognition.
Without that unity, many of the achievements I am about to mention would not have been possible.
One of the projects I am most proud of is GET Diamonds.
During the COVID-19 pandemic, when the whole world locked down, we understood that we could not depend only on others.
The Federation decided to take responsibility.
We created an independent platform and provided it with a loan of $100,000. Most of that loan has already been repaid.
We also raised around $180,000 in donations to help launch the project.
And even during the worst moment of the pandemic, we had $6 billion in diamond value raised on the platform.
Today, GET Diamonds is one of the world’s largest trading platforms for natural diamonds, and it continues to grow.
Tim – you’re doing a great job and good luck.
But for me, there is another important achievement.
For the first time in the history of the Federation, we created a permanent source of income that is not based only on membership fees.
So far, GET Diamonds has generated almost $250,000 for the Federation, and I believe its potential is much greater.
The COVID pandemic also caused some of our members real distress.
We believed the Federation could not stand by and do nothing.
So we created the Diamond Aid project and raised around $100,000 for our members in India.
I remember talking with Anoop on the phone and saying we had enough money, but what we needed was vaccines, which we found in the end and shipped to India.
For me, it was never about the amount we raised – or even the vaccines.
It was about the message.
We wanted every member of the Federation to know that they were not alone.
When one of us is in crisis, the whole family stands beside them.
That is what the Federation represents.
Responsibility.
Support.
Standing together during difficult times also meant standing up for our industry when it mattered most.
At the beginning of the G7 Russian diamond sanctions, the WFDB worked closely with the World Diamond Council and other industry organisations to oppose the single-node proposal.
This system would have required all rough diamonds to pass through Antwerp for inspection.
We believed this was not fair to the other diamond centres around the world.
So we acted.
We met with governments, regulators, AWDC and other decision-makers. We even briefed President Biden’s team on the situation – which was a gamechanger.
Our message was clear.
If such a system is introduced, it must be available to all the major diamond centres – not only one.
Today, this principle has been accepted.
Antwerp remains the verification centre for the European Union, while diamonds with the correct Kimberley Process country of origin can move freely between all recognised trading centres.
Another important goal for me was to bring the producing countries closer to the Federation.
For many years, some of them felt that the Federation mainly represented the trading centres.
We wanted to change that.
I am proud that during our term, Botswana and Angola joined the Federation.
These are two of the world’s most important producing countries, and their membership makes the Federation and our industry stronger.
And I sincerely hope that we approve more memberships in the future.
Every new bourse, every new country, and every new member, helps our Federation, and the industry.
I also believe that, in the years ahead, we will see successful bourses in Botswana, Angola and Qatar.
Healthy competition between bourses does not weaken our industry.
It helps us grow.
When one bourse grows, the whole industry benefits.
And when one president succeeds, we should congratulate them, learn from them and support them.
We should not be jealous. And we should never be afraid of another bourse’s success.
Their success is our success.
There are also moments when leadership is not about business.
It is about values.
The Heidi Horten jewellery auction was one of those moments.
When we learned that the family’s wealth was connected to the Nazi regime, we could not remain silent.
We led an international public campaign.
We engaged with the auction house.
We worked with the media.
And we spoke with leaders across the industry.
Our message was simple.
The diamond industry must never be associated with one of the darkest chapters in human history.
The campaign received international attention.
As a result, a significant part of the sale proceeds was donated to a charity supporting Holocaust survivors.
But for us, the most important result was something else. It showed that the Federation does more than protect the diamond trade.
It also protects the values, integrity and reputation of our industry.
Throughout its history, the Federation has stood firmly behind natural diamonds.
That commitment has become even more important as our industry faces new challenges.
At our World Diamond Congress in Israel in 2023, we approved a significant contribution to the Natural Diamond Council.
But more importantly, we sent a clear message to our industry.
Generic marketing is vital.
We called on every part of the diamond pipeline to support the Natural Diamond Council and its work to boost consumer confidence and demand for natural diamonds.
In 2025, we also invested a significant part of our own budget in an international campaign promoting natural diamonds.
Through our members, these videos reached hundreds of thousands around the world.
This year, we renew that commitment.
Even during one of the most difficult periods our industry has faced, we choose to invest.
We believe this decision was needed to build consumer confidence in the unique story of natural diamonds.
The Congress will also consider another important proposal.
To encourage our members to use the term “synthetic diamonds” rather than “lab-grown diamonds.”
Words matter.
Consumers deserve terminology that is clear, accurate and consistent.
Natural diamonds and synthetic diamonds are different products.
Our responsibility is to ensure that difference is understood by every consumer, in every market, around the world.
Six years ago, I told myself that the role of the President was not only to manage the organisation, but to bring people together.
Today, as I conclude my term, I believe we have done exactly that.
When I look back, I do not think about the meetings we held or the projects we completed.
I look at the Federation.
I see a Federation that is more united.
More stable.
More independent.
And better prepared than it was six years ago.
But above all, I see people.
People who choose, even when they disagree, to sit at the same table.
To listen to each other.
To respect each other.
And to remember that, above everything else, we are one family – the global diamond family.
Because if the past six years have taught us one lesson, it is this:
We are always stronger when we stand together.
I leave this office with confidence.
Confidence in this Federation.
Confidence in its leadership.
And confidence in the future of the natural diamond industry.
I wish every success to the leadership that will be elected today.
I am very happy and proud that we have three excellent candidates for the President of WFDB.
Before I finish, I would like to thank the people who have shared this journey with me.
First, I would like to thank:
- the members of the Executive Committee, • the presidents of our member bourses, and
- our partners around the world.
Thank you for your trust.
Thank you for your support.
And thank you for your friendship.
I would also like to thank:
- Fabio – we faced many challenges to arrange the Congress. But we leant on each other. And we became very good friends. Well done on hosting an amazing event here in Singapore.
- Harsh Shah, thank you for leading our social media. You did great work.
- Sabine – thank you for your support throughout these years.
- Rony Unterman, my good friend and our Secretary General. It has been a privilege to work alongside you.
- To my dear friend, our Vice President, Philippe Barsamian, thank you for your friendship, your loyalty and your sound advice.
- To Shmuel Iny, our Chief Legal Advisor, thank you for your extraordinary commitment. For most of my presidency, you gave your time and expertise without receiving any payment.
- To our Vice President, Moshe Salem, thank you for working together day and night. Without your support and your friendship I could not have made this Presidency a success.
I would also like to thank my sister Meirav, who has been by my side for the past 25 years, my partner, Ruti, and my family.
Behind every president is a family that shares the sacrifices, the travel, the long hours and the responsibility.
And finally, thank you to all of you.
When I started as a diamond polisher, I could not have imagined that one day I would stand here, in this room, serving as President.
I want to thank God and I believe all of us – Christian, Hindus, Muslims and Jews – we have the same God.
We are all blessed to be part of our industry. That is its beauty. People with different backgrounds. And different views. But one community. And one shared commitment for the future.
That makes me proud.
And it reminds me why this Federation matters.
Thank you all.
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