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CIBJO, WFDB, IDMA Agree To Harmonize Nomenclature

 

CIBJO, the World Jewellery Confederation, the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) have agreed that the nomenclature used by the International Diamond Council (IDC) will be harmonized with that of CIBJO's Diamond Blue Book.

 

The agreement was formally announced at the 2017 CIBJO Congress in Bangkok, after the CIBJO Diamond Commission approved amendments to the CIBJO Diamond Book that had been requested by the IDC, as part of the agreement between the three organizations.

“The CIBJO Diamond Book may now function as the single official reference book for nomenclature in the entire diamond and jewelry industry, with the goal of enhancing consumer confidence," explained Udi Sheintal, the CIBJO Diamond Commission President, and former Diamond Controller of Israel's Ministry of Economy.

“The true beneficiaries of this agreement are the diamond consumers, who will now be able to refer to a single set of rules for describing diamonds,” said CIBJO President Gaetano Cavalieri. “Our Blue Books are living documents, which are reviewed year in and year out on a continuing basis, to ensure that they are current with changing conditions and technological developments. The fact that the CIBJO Diamond Book now endorsed by the WFDB and the IDMA, serves the interest of both the industry and the marketplace.

WFDB President Ernie Blom commented: "This is a major step forward that we have worked towards for a long time. The IDC was created by the WFDB and the IDMA to defend the integrity of the diamond, and the step of creating a single, universally applicable book will combat any confusion in the market about nomenclature.”

IDC was established in 1975 to provide its founders – the WFDB and IDMA – with a set of universally accepted standards of nomenclature for polished diamonds within the international diamond trade.

The diamond nomenclature agreement came on the second day of CIBJO's annual congress in Bangkok which brought together from around the world some 150 official delegates and a total about 300 participants, and covered a range of issues on the agenda of the international gemstone and jewelry industry.

This year's Congress saw a strong focus on responsible sourcing, Corporate Social Responsibility and sustainability, particularly in the colored gemstone sector.

The 2017 CIBJO Congress was officially opened by General Prayut Chan-o-cha, the Prime Minister of Thailand, who was accompanied by Apiradi Tantraporn, Thailand's Minister of Commerce, and Sontirat Sontijirawong, the country's Deputy Minister of Commerce.

In his speech, General Chan-o-cha stressed his government's support for the Thai gem and jewelry industry, which is the country's third largest export earner. "We need to take care of the people in the value chain to make sure that nobody is left behind, especially the lower income workers, and we also want to ensure transparency and good governance," he stated. "Thailand is committed to improving our products and to becoming a global jewelry hub in the next five years, and I hope we can grow stronger together and enable Thailand to secure this vision."


 
 
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