To ensure consumer confidence in the jewelry sector, the World Jewellery Confederation (CIBJO) and the International Grown Diamond Association (IGDA) have joined forces by signing a Memorandum of Understanding (MOU), Diamond World reports.
According to the report, the collaboration aims to establish transparent standards, operating principles, and industry terminology to safeguard consumers’ interests.
The MOU, signed on June 25th, 2023, during the National Association of Jewellers’ (NAJ) Summit in Birmingham, solidifies the agreement between Gaetano Cavalieri, President of CIBJO, and Joanna Park-Tonks, President of IGDA.
As part of the agreement, IGDA will become a member of CIBJO’s Laboratory Grown Diamond Committee, represented by Park-Tonks. The committee, led by Wesley Hunt of De Beers, has already developed a Laboratory Grown Diamond Guidance document. The objective of this document is to establish universal practices for trading and handling laboratory-grown diamonds, ensuring their authenticity and enabling informed purchasing decisions by consumers.
