The World Federation of Diamond Bourses (WFDB) in 2018 will hold its annual Asian summit in Russia. The WFDB executive committee adopted the decision at the meeting on September 11. On the proposal of ALROSA, the summit will be held in Vladivostok. By decision of the committee, Moscow Diamond Bourse (MDB), the official representative of the Russian Federation in the WFDB since 2006, will be the coordinator of the summit.

WFDB is the oldest industry organization, today it unites 31 diamond trading hub from 22 countries. WFDB Asian summit traditionally brings together heads of diamond exchanges from the Asia-Pacific region. ALROSA and WFDB have a long-standing partnership, including cooperation in the framework of the World Diamond Council, representing diamond industry in the Kimberley Process.

"The Asia-Pacific region is not only one of the main centers of diamond cutting and trading, but also a growing consumer market. We are excited to see the development of this region, and appreciate the efforts of ALROSA and the Russian government on the creation of the new diamond trading hub. I hope that the WFDB Asian summit in Vladivostok will contribute to strengthening cooperation between the countries and will serve the further development of our industry", said the WFDB President Ernest Blom.

"The Russian Far East is developing rapidly, gradually becoming a new trading hub for rough and polished diamonds. Last year we successfully launched the Eurasian Diamond Centre in Vladivostok, which is now actively engaged in trade with Asian countries. Therefore, we are pleased to invite the WFDB to hold the annual Asian summit in Vladivostok next year, to share experience and business practices, and to discuss opportunities of further development of the diamond market”, ALROSA president Sergey Ivanov said.