Las Vegas: The Gem & Jewellery Export Promotion Council (GJEPC) and the Diamond Producers Association (DPA) signed a Memorandum of Understanding to collaborate and boost diamond demand in the world, and to enhance the image of the diamond industry. The MoU was signed by Praveenshankar Pandya and Stephen Lussier, chairmen of the two organizations at an event held at the JCK, Las Vegas.

Signing of the MoU followed soon after the DPA unveiled its new Category Marketing Platform, “Real is Rare”. As part of the agreement, GJEPC pledged to contribute to the DPA’s 2016 marketing investment and work hand-in-hand with the DPA leadership to explore long term collaboration opportunities and enhance the image of the world diamond industry. The DPA and the GJEPC have agreed to hold quarterly meetings during which they will discuss industry challenges and opportunities; review and discuss marketing progress; and share industry insights on matters of mutual interest.

Mr. Stephen Lussier, Chairman of the DPA, said, “A close collaboration between leading diamond mining companies and the Indian diamond sector is essential to capturing and achieving the full potential of the industry. I thank the GJEPC and its Chairman, Mr. Praveenshankar Pandya, for its leadership role to this effect and look forward to a close partnership between our two organizations.”

Mr. Praveenshankar Pandya, Chairman, GJEPC, said, “The resurrection of diamond category marketing programmes is vital to the future of our industry and I commend the DPA and its chairman Stephen Lussier for taking this important initiative. The GJEPC has been working with different stakeholders through the last few years to generate consensus to initiate generic marketing efforts for diamonds. Hence, we are very keen to be closely associated with this effort and initiative of the DPA so that we can jointly build a stronger industry by giving the much-needed boost to the demand for diamond as a category. I am confident that the vast experience of Stephen Lussier and Jean-Marc Lieberherr, the CEO of DPA will go a long way in being successful in our endeavors”