The Qatar Diamond Exchange (QDE) has signed a memorandum of understanding (MoU) with the London Diamond Bourse (LDB), the latest in a line of agreements the Middle Eastern exchange has forged with its counterparts.

QDE director Ghanim Al-Saadi and LDB president Charlotte Rose inked the agreement in London, the QDE said last week. Over the past couple of months, QDE has established collaborations with three diamond bourses in Asia – Tokyo, Singapore and Shanghai – and in Italy.

The partnership represents a further step in the QDE’s efforts to broaden its international reach and bolster ties with established diamond-trading centers. The deal with the LDB aims to foster business connections among members, encourage commercial relationships and promote cooperation through reciprocal visits and participation in industry events, tenders and auctions.

The organizations will work together to strengthen the natural-diamond and colored-gemstones sector while promoting compliance with industry standards, the QDE added. These initiatives include those of the Responsible Jewellery Council (RJC) and the World Diamond Council’s (WDC) System of Warranties.

“The future of the diamond industry depends on its ability to connect established trading centers with emerging markets while maintaining the trust and standards that underpin our trade,” said Rose. “Qatar represents an opportunity to strengthen engagement with the Gulf region, and this agreement provides a valuable framework for our members to explore new commercial opportunities and share industry expertise.”