Qatar is aiming to become a new hub for luxury, trade and innovation in the diamond and coloured gemstone industry. The Doha International Watch and Jewellery Exhibition, which drew more than 30,000 visitors and showcased over 500 brands, marked a defining moment in this journey for the emirate.
The Doha International Diamond and Gem Conference, which was held alongside the exhibition, provided a platform for industry voices and assessments. It laid the foundation for an era of collaboration, sustainability and market development, according to the organisers.
According to Qatar’s growing influence in the diamond and gemstone trade, Ahmed Al Sayed, the country is committed to promoting investment and collaboration. “The State of Qatar is not only honoured to be a part of the Kimberley Process but is also eager to contribute on a global scale,” he said. “Our private sector and government institutions are ready to support and expand this industry, ensuring that Qatar becomes a key player in the trade of high-value diamonds and jewellery.”
Dubai Multi Commodities Centre (DMCC) Chairman and CEO Ahmed Bin Sulayem acknowledged the changing landscape of the global diamond trade. “The industry faces headwinds, from shifting consumer demand to supply chain disruptions and the rise of lab-grown diamonds. But therein lies opportunity – for innovation, for market resilience and, most importantly, for collaboration.”
World Diamond Council (WDC) President Feriel Zerouki described Qatar’s emergence as a timely and significant force in the global diamond industry. “Since joining the Kimberley Process in 2021, Qatar has been carving its niche, proving its by dedication to ethical sourcing and responsible trade. This first conference sets a tone for the future – one that prioritizes unity and transparency in the industry.”
The conference highlighted a pressing issue for the industry: diamonds and coloured gemstones as luxury goods are declining in sales compared to other high-end products. Brands, the conference participants said, must rethink the concept to maintain the appeal of luxury goods for generations to come.
From strengthening the diamond and gemstone value chain to rethinking marketing strategies and ramping up sustainability efforts, the Doha International Diamond and Gemstone Conference laid the groundwork for tangible industry-wide change. And Qatar is set to secure a strong place in the future of the industry.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
