Presidents of the World Federation of Diamond Bourses (WFDB) and the World Jewelery Confederation (CIBJO) Ernest Blom and Gaetano Cavalieri signed a cooperation agreement, according to which both organizations will seek to coordinate positions with a view to positive influence on the events in world diamond and jewelry sectors, WFDB reported.
The agreement was signed at a meeting of WFDB presidents in Istanbul.
While WFDB and CIBJO will fully retain their independence as an organization, they will coordinate positions on gemological standards and nomenclature; standards and methods of recognition of synthetic stones processed and manufactured using modern technologies, imitating natural diamonds and precious stones; corporate social responsibility, good governance and sustainable development, including the Kimberley Process.
The parties will also exchange knowledge, information and assessments on developments in the international diamond and jewelry markets, protecting the integrity of members of both organizations around the world.