The 2011 Presidents' Meeting of the World Federation of Diamond Bourses (WFDB) decided in Dubai earlier this month to accept the invitation of the Diamond Exchange of Singapore (DES) to host the 36th World Diamond Congress in the Asian city state in 2014.



"Singapore is an important gateway to the Asian market, in particular to markets such as Malaysia and Indonesia which are the next potential growth markets for diamonds and diamond jewelry," WFDB President Avi Paz said. "During the past decades, the members of the Diamond Exchange of Singapore (DES) have made a significant contribution to the development of new diamond markets. Through their sourcing and business relations with peers in other diamond bourses worldwide, they have consequently helped to increase the volume of business at other bourses as well," Paz noted.



DES president Suresh Hathiramani said his bourse's interest in hosting a WFDB congress was, among other things, to increase Singapore's profile. "While our exchange's membership is small compared to that of other bourses, our role as a diamond distribution hub is important in this part of Asia. Our members serve those markets that are beyond the horizon of most other bourses. As such, we are the face of the diamond trade," Hathiramani explained.

Meanwhile, Paz paid tribute to Hathiramani's work on behalf of the WFDB. "He is one of the WFDB's most active presidents, who is always ready to make an extra effort for our organization."