Editor’s Note
This report details a recent visit by Macao’s Secretary for Economy and Finance to Belgium, focusing on engagement with key figures in the global diamond industry. The delegation’s meetings aimed to foster exchange and gather insights to inform Macao’s own economic development strategies.
Secretary for Economy and Finance, Mr. Leong Vai Tac, led a delegation to Belgium on June 12, visiting the Antwerp World Diamond Centre (AWDC) and exchanging views with the Governor of Antwerp and local industry representatives to learn about advanced experiences in developing the diamond industry.
Mr. Leong met with Mr. Ari Epstein, Executive Director of the AWDC; Mr. Stéphane Fischler, President of the World Diamond Council; Mr. Philippe Barsamian, President of the Belgian Diamond Federation; and Ms. Cathy Berx, Governor of Antwerp. Mr. Leong stated that Macao possesses multiple advantages for developing diamond-related businesses, including the institutional advantage of “One Country, Two Systems” and the backing of the motherland. Furthermore, Macao is a free port with convenient movement of goods and capital, and its legal system and business operation models are aligned with international standards. Macao can fully leverage its role as a Commercial and Trade Cooperation Service Platform between China and Portuguese-speaking Countries to introduce new industrial sectors for development in Macao.
He noted that the Macao SAR Government is actively advancing the legislative work for the relevant system, accelerating alignment with international norms for the trade of rough diamonds (referring to diamonds that are unprocessed or simply cut), and striving for the formal implementation of the Kimberley Process system starting October 1 this year.
Representatives from Antwerp also introduced the historical development of the local rough diamond industry, industry trends, and the operational status of diamond institutions. Antwerp is a major global diamond trading center, where 80% of the world’s rough diamonds are traded, earning it the reputation as the “World Diamond Capital.” Both sides agreed to broaden cooperation channels to promote the development and exchange of the diamond industries in both places, fostering mutual benefits and win-win opportunities.
In the afternoon, the delegation visited the Antwerp Diamond Exchange, HRD laboratories, and a local diamond processing factory. Antwerp’s exceptional processing technology, comprehensive supporting facilities, and advanced operational experience are worthy of reference and learning for Macao, aiding in the promotion of high-end manufacturing development in Macao. Additionally, the delegation gained insights into related diamond testing equipment and technology to assist in the enforcement work for the implementation of the Kimberley Process Certification Scheme.
During their stay in Belgium, Mr. Leong and the delegation also attended the 23rd EU-Macao Joint Committee meeting and conducted a study visit to Luxembourg, meeting with representatives from the local Ministry of Finance and the financial industry.
