The Qatar Diamond Exchange (QDE) and the Borsa Diamanti d’Italia (Italian Diamond Exchange) have signed a memorandum of understanding (MoU) to strengthen trade and promote cooperation between the two countries.
QDE director Ghanim Nasser Al-Saadi and Italian bourse president Luigi Cosma signed the deal during the World Jewellery Confederation’s (CIBJO) 100th anniversary event in Vicenza, Italy, QDE said Tuesday.
The partnership creates a framework for the exchanges to extend connections among their members, broaden ties and advance commercial relationships. The allies will also invite members and management from both bourses to industry events, tenders, auctions and viewings, supported by a program of reciprocal visits, the QDE said.
The partnership seeks to strengthen consumer confidence in natural diamonds and colored gemstones while supporting adherence to industry standards and initiatives, including those of the Responsible Jewellery Council (RJC) and the World Diamond Council’s (WDC) System of Warranties.
Last month, the QDE signed MoUs with three diamond bourses – Singapore, Shanghai and Tokyo – to extend its collaboration with Asian markets. The alliance with the Italian exchange marks QDE’s first such relationship in Europe.
“Our bourse was founded in 1926, and in that century we have learned that the strength of this trade lies in the connections between its centers,” said Cosma, who is also vice president of the World Federation of Diamond Bourses (WFDB). “Qatar brings a new and well-regulated market into that network, with a clear commitment to the standards our industry depends on. We look forward to introducing our members to Doha, and to welcoming QDE’s members to Milan.”
Image: Doha, Qatar. (Shutterstock)
