Diamond trade has been a key business in Antwerp. But the competition of synthetic diamonds and the boycott of Russian diamonds have shifted the business to Dubai and South Africa.
In 10 years, imports of rough diamonds have fallen by 70 % and the trade of polished diamonds has fallen as well. Synthetic diamonds can be up to 10 times cheaper and not be distinguished by the human eye.
Antwerp has a very transparent diamond sector, and for serious jewelers, and this advantage will become more important.
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Belgian-Macedonian Business Club 
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