The World Federation of Diamond Bourses (WFDB) commended the French Ministry of Economy and Finance for its decision to ban the use of all terminology other than synthetic for non-natural diamonds. The decision means that the use of the term lab-grown or cultivated diamonds will not be legal in France.
Yoram Dvash, President of the WFDB, said: "We praise the decision of the French government to insist that all stones other than natural diamonds be called “synthetic.” This is an important step in confirming the inherent value of natural diamonds and in enhancing consumer confidence.”
The WFDB, the umbrella organization of 27 major diamond bourses worldwide, has acted to support the growth of the natural diamond industry. They have commended De Beers on their marketing campaign for natural diamonds before the 2023 Christmas holiday. The WFDB has also partnered with the Natural Diamond Council to support the growth of the natural diamond industry. In addition to making an initial financial investment, the WFDB is working together with the NDC to identify ways in which the values of natural diamonds can reach more consumers more frequently, through the direct reach of the WFDB, its member bourses, and their individual members.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
