During the two-and-a-half-day event, the leaders of the 30 diamond bourses affiliated to the WFDB, and IDMA's 16 member organizations will discuss the most pressing issues affecting the global diamond industry. They will be joined by an exclusive group of invited guests, mostly representatives of the major rough producers; companies and entities that provide crucial services to the industry, such as banks and other financing institutions; insurers; logistics, security and technology providers; governmental and non-governmental organizations and other industry interest groups.
Instituted in the early 1980s, Presidents' Meetings take place every two years, with the full World Diamond Congress held in the intervening years. Originally, the scope of the Presidents' Meetings was more limited in size and attendance, but over the years, the need to meet and discuss crucial issues has grown, and with that the range and number of participants taking part in Presidents' Meetings.
It is the second Presidents' Meeting to be held in Israel. The first time Israel hosted a Presidents Meeting was in 1990. Israel has also hosted six World Diamond Congresses - in 1956, 1968, 1978, 1986, 1996 and in 2006.
Israel Diamond Exchange President Shmuel Schnitzer, who is also an Honorary WFDB President, said the meeting comes at a time when the diamond industry is facing a variety of challenges: rough diamond supplies, pressure on polished diamond prices, the need for additional financial partners, and mounting competition in the luxury consumer product markets. "We look forward to hosting our colleagues from the WFDB affiliated bourses and the IDMA membership and trust we will discuss ways to take our industry toward significant growth."