AWDC, Shanghai Diamond Exchange sign cooperation deal
ANTWERP , October 26, 2009 – Antwerp World Diamond Centre and the Shanghai Diamond Exchange (SDE) have reached a cooperation agreement to benefit the diamond sectors of both Belgium and China.
Antwerp World Diamond Centre and the SDE have agreed to promote Sino-Belgian diamond trade. To increase diamond export volume from Antwerp to China, AWDC will not only provide promotional support, but also logistical support.
Both parties agree to stimulate bilateral trade and to facilitate access to Antwerp diamond dealers on the Chinese market and vice versa.
Diamond exports to China reached a record high in the first half of 2009.
According to the Diamond Administration of China (DAC), while the international diamond market is facing sluggish demand, China has strong domestic consumption, especially in the bridal market, reaching a record high of $300 million in the first half of 2009.
This represents an increase of 12.7% compared to the same period of 2008.
China has become the world’s third largest diamond consumption market.
“China, the United States and India are today’s most significant consumer markets. China has proven to be a powerful growing market. AWDC is pleased to partner with one of the most strategic players on mainland China,” said Freddy J. Hanard, CEO of Antwerp World Diamond Centre.