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The Diamond Bourse of Canada has established a liaison office in the Shanghai Diamond Exchange, in order to deepen Canada-China diamond trading
Oct 06, 2011 (05:10 PM EDT)


TORONTO, Oct. 6, 2011 /PRNewswire/ - The Diamond Bourse of Canada (DBC), Canada's central diamond exchange, announced the opening of a permanent liaison office within the Shanghai Diamond Exchange (SDE) facility, China's primary diamond gateway. The DBC's opening of its permanent China presence came at the conclusion of a formal business visit by a delegation of Canadian diamond businesses, which was organized as a collaborative effort by the DBC, the SDE, and the Diamond Administration of China (DAC). The Canadian diamond delegation sought to address three primary goals:

  1. To explore possible commercial synergies between Canadian and Chinese diamond operations, and establish bilateral trade relations between the members of the diamond exchanges.
  2. To establish a China-specific marketing strategy for Canadian diamonds, and to educate Chinese consumers on the value of "Brand Canada".
  3. To advocate the benefits of Canada to potential Chinese investors, and to attract direct Chinese investment in various facets of the country's emerging diamond industries.

According to the DBC's General Manager, Mr Adam Shubinsky, "Canada has quickly established itself as the world's third largest producer of diamonds by value. The market has also seen a steep rise in the demand from China for polished goods. As major producers and consumers, China and Canada have much to gain from exploring and seeking mutually beneficial industry synergies — on all levels of the industry. The Diamond Bourse of Canada remains committed to exploring any opportunity that may lead to a strengthening of the various vertical components of the Canadian industry — from mining and manufacturing, through to wholesale and retail."

In addition to that, DBC Chairman, Mr Bhushan Vora, stressed China's potential future role, as a major market for Canadian polished diamonds; "We believe that we are faced with a unique opportunity here to create and establish a distinct value-proposition for Canadian polished diamonds within the rapidly expanding Chinese diamond market. On the whole, the average Chinese consumer already has a very favorable perception of Canada. To capitalize on this foundation though, it is important that the marketing of Canadian polished diamonds transcend its usual selling points of ethics, sustainability, or quality and focus more on selling and marketing 'Canada' and the idea of Canada, to the Chinese end consumer."

Additional Canadian diamond trade missions are expected in the coming months.

About the DBC:
Established in 2010, with headquarters in the financial district of Toronto, Ontario, the Diamond Bourse of Canada is the central forum for the Canadian diamond industry, and Canada's primary diamond exchange facility and network.

To learn more about the Diamond Bourse of Canada, visit: www.diamondbourse.ca

 

SOURCE Diamond Bourse of Canada