The Qatar Diamond Exchange (QDE) has signed a memorandum of understanding with the London Diamond Bourse (LDB) to strengthen ties between the diamond trading communities of Qatar and the United Kingdom.
Ghanim Al Saadi, director of the Qatar Diamond Exchange, and Charlotte Rose, president of the London Diamond Bourse, signed the agreement in London, the Qatar News Agency reported on Wednesday.
The memorandum sets a non-binding framework for the two exchanges to connect their members, encourage commercial relationships and pursue broader cooperation.
The exchanges will encourage bilateral visits and take part in each other’s industry events, tenders, auctions and viewings.
The partnership also aims to promote consumer confidence in natural diamonds and colored gemstones. It supports industry standards including the World Diamond Council’s System of Warranties and initiatives led by the Responsible Jewellery Council.
“London is a well-established center for international diamond trading, and our partnership with the London Diamond Bourse marks an important step in expanding QDE’s global network,” Al Saadi said.
Rose said Qatar offers an opportunity to strengthen engagement with the Gulf region.
The QDE signed similar agreements earlier this year with the Diamond Exchange of Singapore, the Shanghai Diamond Exchange, the Tokyo Diamond Exchange, Italy’s Borsa Diamanti d’Italia and the Diamond Federation of Hong Kong, China.
