Belgium’s market share of rough diamonds from the Central Selling Organization (CSO) increased in 1992 to its highest level in recent years. But both the CSO and the Diamond High Council (HRD) expressed concern at the decline in the country’s diamond industry during their bi-annual liaison meeting in Antwerp recently.
A combination of political and economic factors has caused this decline, including increasing competition from the lower wage-cost centers in the Far East.
Measures to resolve the problems of the Belgian workforce were considered in detail. These ranged from requests made by smaller manufacturers to obtain regular supplies of the rough diamonds being traded through Antwerp to outline strategic proposals, devised by the HRD, in which the Belgian government and all sectors of the diamond trade and industry would be invited to take part.
The discussions also covered aspects to research and development a general belief that younger members of the industry should be encourage to consider ideas for technological advancement. In this area, the HED re-stated its willingness to exchange information with other diamond centers, on condition that it should be mutually beneficial.
Anthony Oppenheimer, who led the CSO delegation, reported on the diamond market. Although De Beers had needed to purchase large quantities of rough diamonds in 1992, the company remained financially secure, he said. It made its largest-ever investment in opening the Venetia diamond mine and again increased the current year’s consumer advertising budget to a record high figure.
But he also pointed out that the major producers were limiting output at least 75 percent of their capacity and retail demand for diamond jewelry was nor forecast to rise substantially during 1993.
“We are taking a cautious view for at least the first half of this year and we hope to see a healthier and more profitable diamond market in 1994,” he concluded.
Mr. Oppenheimer congratulated the HRD on a series of initiatives aimed at focusing world attention on diamonds during the city’s celebratory year, “Antwerp, Cultural Capital of Europe, 1993.” Members of the HRD, headed by its president, Henich Apfel baum, thanked De Beers and the CSO for their support of the program.
The year’s events opened in March with a diamond jewelry exhibition and fashion show at the Stadfeestzaal to which more than 1,000 guests were invited. The 71 pieces in the show. Called “Diamonds…Naturally,” comprise the work of designers from 13 countries in Europe.
Other events in 1993 span 400 years of history to illustrate the cultural significance of Antwerp to the international diamond business—from its “Golden Age” in the 17th century up to the present day.
Probably the most important collection of notable diamonds and diamond jewelry to be assembled foe exhibition in the past 25 years, termed “From the Treasury,” will be on display at the Province House and will also be seen by delegates attending the World Diamond Congress in June.