AWDC and Diamond Administration of China (DAC) Sign Memorandum of Understanding

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AWDC logoThe Antwerp World Diamond Centre (AWDC) and the Diamond Administration of China (DAC) have signed a memorandum of understanding that aims to reinforce cooperation between the two diamond centers. The MOU was signed during the Antwerp-Shanghai Investment Forum taking place in Antwerp June 3-4, which welcomes an economic and political delegation led by Shanghai Party Secretary and former mayor of Shanghai Han Zheng. The Investment Forum aims to follow up on the official visit to Shanghai by Antwerp mayor Bart De Wever, in collaboration with the Port of Antwerp and AWDC, in October last year.

The wide-ranging agreement will oversee the bilateral exchange of information and data about market and industry trends, jointly promoting and supporting Belgian and Chinese diamond trade and investments as well as developing marketing initiatives to drive the sale of diamonds and diamond jewelry. AWDC as well as DAC will specifically support HRD Antwerp’s activities in China.

Ari Epstein, AWDC CEO, stated that: “The aim of the MOU is to strengthen cooperation and exchange between the two diamond sectors, and to promote the development of the diamond industries in both countries.”

The Diamond Administration of China (DAC) is charged with the administration and statistical analysis of national diamond imports and exports as well as the examination and verification of transactions under the rules of the Shanghai Diamond Exchange (SDE). The DAC also reviews and approves the establishment of foreign-invested diamond companies and the daily regulation of their operations. It participates in the formulation of regulations and policies concerning diamond imports and exports and other diamond transactions, and provides services to the Exchange and to domestic and foreign diamond companies.

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