The Kimberley Process has launched its inaugural Secretariat in Gaborone, Botswana, aimed at improving the regulation of the diamond trade. Chaired by Ahmed Bin Sulayem, this office will provide essential support to KP member countries and promote ethical diamond sourcing, furthering the KP’s goal of preventing conflict diamonds from entering the market. The UAE, serving as the current Chair, is focused on making significant advancements within the diamond industry during its ‘Year of Delivery.’
In a significant advancement for the global diamond trade, the Kimberley Process (KP) has inaugurated its first-ever Secretariat in Gaborone, Botswana. This momentous event was spearheaded by Ahmed Bin Sulayem, the CEO and Executive Chairman of the DMCC, highlighting the collaborative effort between the UAE and Botswana. The new Secretariat will play a crucial role in fostering continuity and serving as a centralized resource for KP member countries and their working groups. The inauguration was attended by notable figures including Botswana’s Honourable Minister of Minerals and Energy, Mr. Lefoko Moagi, and officials from multiple countries, reaffirming Botswana’s strong commitment to the KP initiative. The Secretariat, which is set to employ five individuals in its inaugural year, aims to enhance the operational framework of the KP by ensuring that the diamonds traded are sourced responsibly and do not fund conflict. During the ceremony, Mr. Ahmed Bin Sulayem remarked upon the importance of the Secretariat, emphasizing its potential impact on the diamond industry and African development. The KP, established under UN auspices in 2003, comprises 85 countries and facilitates a framework for controlling diamond trade to prevent the circulation of conflict diamonds. He also reiterated the KP’s unique position as the global standard that safeguards the legitimate diamond trade. Botswana officials highlighted that the establishment of the KP Secretariat marks an important step in the enhancement of the KP Certification Scheme. They noted that it is essential for the KP community to work collectively to ensure the Secretariat’s success. Additionally, concerns regarding the effects of geopolitical tensions on the diamond market were acknowledged. The UAE, as the current KP Chair, is committed to delivering tangible results within its designated ‘Year of Delivery,’ aiming to streamline operations and bring meaningful changes to the diamond certification process. The UAE has made notable strides in diamond trade, with a reported value of USD 38.3 billion in rough and polished diamond transactions last year. Furthermore, the Dubai Diamond Exchange (DDE), located within Almas Tower, operates as a central hub for the UAE’s diamond activities, ensuring compliance with the Kimberley Process and providing industry professionals with essential resources for growth.
The Kimberley Process is an international initiative aimed at ensuring that the trade of rough diamonds does not contribute to violence or conflict. Established in 2003 by the United Nations, the KP comprises 85 countries that work collectively to regulate the diamond trade by monitoring the flow of diamonds from conflict zones to legitimate markets. The establishment of a KP Secretariat is an important development, as it aims to increase the efficiency and effectiveness of certification processes, promote industry collaboration, and support efforts to maintain the integrity of the diamond supply chain.
The inauguration of the Kimberley Process Secretariat in Botswana represents a significant milestone in global efforts to ensure the ethical sourcing of diamonds. It underscores the commitment of participating nations to uphold the principles of the KP while also addressing ongoing challenges posed by geopolitical tensions. By establishing this Secretariat, the KP enhances its capacity to regulate the diamond trade, making strides towards a more transparent and responsible industry that benefits communities across Africa.
Original Source: www.zawya.com
