The World Federation of Diamond Bourses (WFDB) has newly appointed Avi Paz as its president. The decision was taken at the ongoing 33rd World Diamond Conference in Shanghai. Avi Paz is the present president of the Israel Diamond Exchange. Being president at WFDB, Paz succeeds Ernest Blom, president of the Diamond Dealers Club of South Africa, who was elected by the WFDB General Assembly to serve as WFDB vice president and as an honorary life president of the federation. %% Paz elucidated the important role the WFDB plays for the international diamond industry. "I am a great believer in cooperation and I believe the fact that we are all united into a federation gives us enormous power. We have to use this power wisely. Only by joining hands and acting as one big force, we will lead the diamond industry towards a better and stronger future. This is our goal and only together we will achieve it".