The 34th World Diamond Congress will be held in Moscow, Russia, between July 11-13, Diamond World reported.

The event is the biennial congress of the World Federation of Diamond Bourses (WFDB) and its sister organization, the International Diamond Manufacturers Association (IDMA). It is the first time a World Diamond Congress has been held in Russia.

The event is coordinated by the Moscow-based WFDB affiliated bourses, the Diamond Chamber of Russia (DCR) and the Moscow Diamond Bourse (MDB).

According to the report, WFDB President Avi Paz said he looked forward to greeting his colleagues in Moscow where a wide range of important debates would be held. "More than ever before, the role of the WFDB and the added value the organization needs to bring to its member bourses will be at the centre of our discussions," Paz said.

"Therefore, I hope that we will be greeting delegations of all 28 bourses that are affiliated to the WFDB, and I look forward to the working sessions where we'll take forward plans to advance the diamond business in what is now called the 'new normal' economy. In particular, I hope to enhance the role of the smaller bourses within the WFDB, and encourage them to become more proactively involved in the global efforts that the WFDB is pursuing."

The 34th WDC program is spread across two and a half days: "As part of the extensive agenda, we'll have the elections of the WFDB Executive Committee, and there will be the discussions and vote of the general assembly on the admission of the South Korea Diamond Exchange to the ranks of our organization. In other words, we'll have to work fast and we'll need to be very effective and decisive," WFDB Secretary-General Michael Vaughan noted.