On 1 April 2014, in the presence of China's president Xi Jinping, the Antwerp World Diamond Centre (AWDC) and the Shanghai Diamond Exchange (SDE) signed a cooperation agreement, outlining their cooperation with respect to the development of an exclusive commercial and trade relationship.
“It is truly an honour for AWDC to enter into a cooperation agreement with SDE, which will contribute to even stronger links between the Belgian and Chinese diamond trade. Our historical ties and interdependence are a solid foundation for enhanced cooperation that will benefit both AWDC and SDE, and in turn both the Belgian and Chinese economies,” said AWDC's president, Stéphane Fischler.
According to the press release, China and Antwerp enjoy fruitful trade relations, especially in polished diamonds, as emulated in the 2013 trade figures. As a key partner for the Antwerp diamond sector, Greater China takes second place in the ranking of Antwerp’s top trading countries. In 2013, Antwerp exported 1.9 million carats to Greater China, valued at US$3.7 billion. Imports from Greater China amounted to 2 million carats that were valued at US$3.4 billion.
The signing of the cooperation agreement by Fischler, AWDC's CEO Ari Epstein and SDE's president Lin Qiang, is a testament to the resolve to deepen the trade relationship, by entering into a long term partnership, geared towards increasing bilateral trade. The agreement commits both parties to increasing trade of diamonds between China and Belgium by at least 10 percent annually, over three years.
In addition, it encompasses cooperation in exchanging market information and diamond knowledge, encouraging free trade of diamonds and cooperating in the field of research and development, especially concerning preserving and defending the integrity of the natural diamond pipeline.
Epstein said: “Greater China already takes second place in the rankings of Antwerp’s top trading partners. In this cooperation agreement, we have set out ambitious goals for AWDC and SDE to further increase bilateral trade in diamonds.”
Currently, 84 percent of all rough diamonds and 50 percent of all polished diamonds pass through Antwerp. Diamonds represent 5 percent of the total Belgian exports and 15 percent of all Belgian exports outside the European Union, making diamonds the most important export product outside the EU.
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