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Antwerp, Belgium--Four months after the Luanda Accord was signed in Angola, the Antwerp World Diamond Centre (AWDC) says the industry's plan to finance a global marketing campaign for natural diamonds has stalled. According to the AWDC report, funds pledged under the agreement have not been transferred, and the campaign has not begun.

[Image via iStock.com/Luen Wantisud]

In an open letter, AWDC Chairman Isidore Mörsel and Vice Chairman Ravi Bhansali urged all signatories to release the funds and move forward. "Release the pledged funds, activate the agreed framework, and begin the campaign," they wrote, as per the report.

The Luanda Accord brought together producers, traders, and industry bodies from Africa, India, Belgium, and the UAE. As part of the plan, producer nations pledged 1% of their rough diamond export revenues — expected to exceed $100 million — to be managed by the Natural Diamond Council (NDC). The aim, the report noted, was to promote natural diamonds and differentiate them from lab-grown stones.

According to the report, despite agreements being signed and budgets pledged, implementation has not started. Mörsel and Bhansali said the delay undermines confidence in the commitment made at Luanda.

They added that natural diamonds play a vital economic role in producing countries, supporting schools, hospitals, and jobs across Africa and India. The report also noted that lab-grown diamonds continue to gain market share through large-scale advertising campaigns.

The AWDC leaders called on all signatories — including producer nations, the NDC, and industry partners — to act immediately and begin the campaign. “Every delay weakens the credibility of the commitment we all made together," the letter stated.

Read the entire letter here on AWDC's website.