London, October 28 (QNA) - The Qatar Diamond Exchange (QDE) has signed a Memorandum of Understanding (MoU) with the London Diamond Bourse (LDB), establishing a strategic partnership aimed at strengthening ties between the diamond trading communities of Qatar and the United Kingdom. 
The agreement was signed in London, between Ghanim Al Saadi, Director of the Qatar Diamond Exchange, and Charlotte Rose, President of the London Diamond Bourse.
The partnership marks another step in Qatar Diamond Exchange's efforts to expand its international network and deepen engagement with established diamond trading markets. Through cooperation with the London Diamond Bourse, QDE aims to support the development of the natural diamond, precious stone and jewelry trade, creating long-term value for both exchanges and their members.
The MoU establishes a non-binding framework for the two exchanges to facilitate business connections between their respective memberships, encourage commercial relationships and mutual introductions, and pursue broader cooperation. QDE and LDB will encourage bilateral visits and reciprocal participation in industry events, tenders, auctions, viewings and other activities organized or hosted by either exchange.
The partnership further seeks to promote consumer confidence in natural diamonds and colored gemstones through international and local industry initiatives, while supporting adherence to recognized industry standards, including the World Diamond Council's System of Warranties and initiatives led by the Responsible Jewelry Council.
Al Saadi said: "London is a well-established center for international diamond trading, and our partnership with the London Diamond Bourse marks an important step in expanding QDE's global network. Through this cooperation, we aim to create new opportunities for our members to access international markets, strengthen commercial relationships and support our ambition to position Qatar as a trusted and well-connected hub for the global diamond trade."
Rose said: "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. 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. 
"We look forward to building a productive partnership that delivers tangible value to both trading communities and contributes to the long-term development of the natural diamond trade."
The agreement builds on QDE's growing network of international partnerships, following MoUs signed earlier this year with the Diamond Exchange of Singapore (DES), the Shanghai Diamond Exchange, the Tokyo Diamond Exchange, Borsa Diamanti d'Italia (Diamond Bourse of Italy), and the Diamond Federation of Hong Kong, China, further strengthening Qatar's connections with established diamond trading markets and creating new opportunities for international trade and cooperation. (QNA)