The Luanda Accord: Pioneering a Bright Future for Natural Diamonds
The Luanda Accord, signed by diamond-producing governments and industry leaders, seeks to enhance global marketing for natural diamonds. By allocating funds for a worldwide marketing initiative, the agreement aims to boost consumer demand and support economic growth in diamond-producing regions.
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- India
Representatives from diamond-producing countries and key industry figures have come together to sign the Luanda Accord, a pivotal agreement that aims to revitalize the global natural diamond market through enhanced marketing strategies. Led by the Natural Diamond Council (NDC), this initiative seeks to elevate consumer interest and demand.
The accord, highlighting the economic significance of natural diamonds, commits participating governments and stakeholders, including De Beers Group, to contribute 1% of their annual rough diamond revenue towards global marketing efforts managed by the NDC. This move underscores the industry's dedication to fostering growth and supporting communities reliant on diamond production.
Minister of Minerals and Energy of Botswana, Bogolo Joy Kenewendo, praised the accord, stating it sends a clear message of ambition, transparency, and commitment. Leaders emphasized the urgency of boosting consumer demand to secure future prosperity, with the accord marking a decisive effort to tell the compelling story of natural diamonds and their positive global impact.
(With inputs from agencies.)
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