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AWDC to intensify cooperation with China

18 december 2012

Antwerp World Diamond Centre (AWDC), representing the interests of the diamond industry of the city on the Scheld, intends to strengthen cooperation with China, AWDC announced on Monday during presentation of a study on diamonds sales.
According to the study conducted by Bain & Company at the request of AWDC, sales of diamond jewelry in 2011 almost reached pre-crisis levels. Last year the global volume of transactions with diamonds totaled $ 71 billion, which is just $2 billion less than in 2007, but $12 billion more compared to 2009.
The share of sales of diamonds as such reached a record of $24 billion, or $4 billion more than in 2007. Sales growth was mainly promoted by China, India and the U.S. Russia, Turkey and the countries of Latin America also witnessed increased interest in diamonds.
According to the study by Bain & Company, the diamond business entities should adapt their strategies to the current trends. "On the part of China and India demand will continue to widen in the coming years. Antwerp as a center of expertise, along with major Chinese cities, shall also work more intensively with Guangzhou, Shenzhen and Chongqing," - said in that connection Caroline de Wolf from AWDC.

Alex Shishlo, editor of the European Bureau for Rough & Polished