Russian Vladivostok builds a diamond center or leads to an industry trade war

August 31, Russia's Alrosa is the world's largest producer of rough diamonds, and has just set their goal to double sales to China and Japan by 2020. According to satellite network reports, Russian economic expert Anton Shabanov believes that this may lead to an industry trade war, because existing players in the Chinese and Japanese markets obviously want to protect their cheese.
Alrosa Vice President Rinat Gizatulin said that the company will use Vladivostok's platform to double its sales to China and Japan by 2020, reaching 1.2 billion rubles per year (12.92 million yuan). . The company's own experts believe that they have the ability to build new trading platforms in the Far East and quickly increase sales. Sabanov said that this concept is very attractive and the target market has great potential, especially China. He said that the company knows that China is a promising customer, but they are already buying diamonds from the Middle East, which already has its own diamond exchange. "When Russia enters this market with its new platform, it will lead to trade, economic and service wars with existing players, and these players will of course rise to defend their markets and customers."
He said that the advantage of Russians is that their platforms are closer to China and more convenient. Beijing may also be very happy to turn to Russia to save money. Sabanov also said that prices can initially provide some help to Russian producers, but they can't rely on prices because it hurts profits.
From September 2nd to 3rd, the 2nd East Asia Economic Forum will be held in Vladivostok. At this moment, Alrosa held a diamond exhibition in the local area.
Alrosa is preparing to build the Eurasian Diamond Center at Vladivostok's old airport, which will include customer terminals, laboratories, and offices of Russian treasury representatives. In addition, the Diamond Center will also be equipped with precious metals and diamond libraries, diamond cutting departments and trading floors. The center is expected to be fully operational in 2017.

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