FAS of Russia Develops Rules for Nondiscriminatory Access to Rough Diamonds

On 24 April 2012 the Federal Antimonopoly Service (FAS of Russia) hosted a meeting of with Mikhail Fedorenko, Head of Department for Control over Chemical Industry and Agro-Business of FAS, and representatives of Antwerp World Diamond Centre (AWDC), according to a press release by FAS.
On the part of AWDC the meeting was attended by Vice President Stephane Fischler, member of Board Isy Marcel, Chief Executive Officer Ari Epstein, counselor Dree Olvo.
Ari Epstein was speaking about the environment at the global diamond industry as well as the role of AWDC as coordination body and official representative of Antwerp diamond sector. Antwerp is the major trading platform for the global diamond industry, at accounts for over 50% polished diamond sales in the world. More over, Epstein noted increased role of Russia at the global diamond market raising concern over insignificant participation of Russian companies in diamond supplies
Mikhail Fedorenko stressed that at present time FAS of Russia, with the participation of AK ALROSA and a number of Russian diamond cutting enterprises, is working at development of rules securing nondiscriminatory access of the consumers to rough diamonds, as well as studying the experience of global diamond community in the matters of pricing at the rough diamond market.
Stephane Fischler noted that AWDC has vast information on the issues of legal regulation and operation of the diamond market and is eager to share it with FAS of Russia.
Following the meeting the parties agreed over further development of cooperation within the scope of consultative assistance during development of the rules for nondiscriminatory access.