Letter from WFDB President
Dear Friends,
As we usher in the Jewish New Year, I want to share with you several positive developments in the diamond industry that inspire both encouragement and optimism.
To begin, I extend sincere congratulations to the AWDC and the European Union for successfully securing a zero-tariff agreement on diamonds polished within the EU upon import into the United States. This achievement marks an important milestone for our industry, and we hope it will pave the way for similar agreements with other leading diamond centers across the globe. The WFDB has urged the implementation of zero-tariff agreements across all diamond centers; failure to do so could seriously harm the global industry.
Another positive development is the bold initiative by Botswana to acquire a controlling stake in De Beers, and by Angola to take a strategic minority stake in the company. This follows the two nations’ spearheading of the groundbreaking Luanda Accord, which has united African diamond-producing countries under a shared vision by contributing 1% of their annual rough diamond revenue toward the promotion of natural diamonds. The visionary leadership shown by the President of Botswana and the Minister of Mining of Angola is remarkable and deserving of our highest praise. It is both appropriate and inspiring that De Beers be guided by industry leaders who possess not only deep knowledge of diamonds but also a vested interest in ensuring the company’s enduring success. We all stand to benefit from their endeavor, and we should wholeheartedly wish them well.
Encouraging signs have also emerged from Asia. The recent Hong Kong show outperformed previous exhibitions and signals the beginnings of renewed vitality in the Chinese market. China’s polished diamond imports in 2025 have shown a significant increase compared to 2024. While this revival will certainly be gradual, the direction is clear and promising: China is on a path to reclaim its crucial role as a key driver of growth and leadership in the global diamond trade.
As we embrace the spirit of renewal this New Year brings, I extend my warmest wishes to each of you. May these encouraging developments serve as harbingers of prosperity for our industry and all its members.
Shana Tova u’Metuka, and Hatima Tova,
Yoram Dvash