The International Diamond Manufacturers Association has published its agenda for the 34th World Diamond Congress, set for late July in Moscow, saying the three day-event will focus mainly on the rough diamond market.

"The developments in the rough diamond market and the way these affect our businesses will be at the top of our agenda," said IDMA President Moti Ganz. "In Moscow, we will take a good look at the difficult position of diamond manufacturers in the supply pipeline. On the one hand, we continue to buy rough diamonds for cash payments, while on the other our clients continue to demand we provide them with favorable, long-term credit for the polished goods we produce."

according to the statement, Ganz said that diamond manufacturers are determined to phase out their traditional role as those who bear the brunt of the financial burden in the diamond supply pipeline. "The recent economic crisis has driven home the message that the financing structure of the diamond supply pipeline needs to change and that its burden must be carried by all parties throughout the pipeline and not only by the manufacturers."

International diamond industry analyst Chaim Even Zohar will present an overview of the rough diamond market to IDMA members, while Dione Kenyon, President of the US Jewelers Board of Trade (JBT) will address the issue of credit in the jewelry industry. The JBT is renowned for its directory, commonly dubbed the "Red Book," that offers a detailed credit rating of its listed members. "We need to learn or re-learn how to work in the downstream market and assure that those to whom we sell our diamonds are worthy of being entrusted with our goods," Ganz said.

Other speakers will include Sergey Oulin, President of the Russian Diamond Chamber, Matt Runci, President of Jewelers of America (JA) and the Responsible Jewelry Council (RJC).

The outcome of the intersessional Kimberley Process meeting held in Tel Aviv last week will also be discussed: "The untenable situation in the Marange diamonds fields will be part of our intensive discussions during the congress. At this point in time, we can only hope that the government of Zimbabwe will refrain from making any diamond shipments until all parties are in agreement," said Ganz.

IDMA members will also address the lack of a generic diamond advertising campaign, and the delay in getting the International Diamond Board (IDB) off the ground. "We sincerely hope that in Moscow, the IDB will become a reality," Ganz said. "Since the special brainstorming meeting IDMA organized about the IDB in 2008 -- an event that was organized by IDMA's past president Jeff Fischer following a rough diamond conference in Israel -- we still do not have all producers on board. I sincerely hope we will be able to announce in Moscow that the IDB will be up and running with the conclusion of the 34th World Diamond Congress," he concluded.