Belgium’s Interior Minister, Annelies Verlinden, has expressed strong support for Antwerp’s diamond industry, calling for robust government measures to sustain its position as a global trade hub. Speaking at the World Economic Forum in Davos, Switzerland, Verlinden emphasized the need for certainty and stability in policymaking, both domestically and across the European Union.
“The government must provide certainty and stability, and at the European level, we need to adopt business-friendly policies,” Verlinden stated during a panel discussion. She also highlighted opportunities to improve the sector’s operational environment through deregulation, legal clarity, and simplified administrative and fiscal processes.
Her remarks align with recent appeals from industry leaders who are grappling with significant challenges. Karen Rentmeesters, CEO of the Antwerp World Diamond Centre (AWDC), issued a call for “decisive support” following a sharp 35% decline in rough diamond imports due to G7 sanctions on Russia. Rentmeesters pointed out critical hurdles, including restricted access to Belgian banking services, limited visas for specialist foreign workers, and the need for streamlined customs procedures at the Diamond Office.
Industry stakeholders echoed these concerns. Ravi Bhansali, Vice President of AWDC and Managing Director at Rosy Blue, warned of the long-term implications: “The diamond story will continue, here or elsewhere. It’s up to our governments to decide whether Antwerp remains part of that story.”
Al Cook, CEO of De Beers, underscored the urgency of policy reform, noting that restrictive regulations could jeopardize Antwerp’s standing as a global diamond trade center. “Regulations that block progress are a poor choice and risk sidelining Antwerp,” Cook cautioned.
With its historical prominence in the diamond trade, Antwerp is at a crossroads. The calls for intervention underscore the need for a collaborative approach to address the immediate challenges and secure the industry’s future. The government’s response in the coming months could determine whether Antwerp maintains its pivotal role in the global diamond narrative.
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
