Kimberley Process Intersessional In Dubai Tackles Global Diamond Trade Challenges

The UN-mandated Kimberley Process (KP) Intersessional meeting commenced in Dubai yesterday, emphasising the need for accelerated consensus and decision-making to ensure the industry's long-term security and efficiency. The event, held at Uptown Tower, Uptown Dubai, the headquarters of DMCC, brought together hundreds of diamond industry representatives, civil society members, and global governments.

The UAE is chairing the KP for a historic second time in 2024 under the leadership of DMCC's CEO and Executive Chairman Ahmed bin Sulayem. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, highlighted the KP's achievements over the past 21 years in curbing the trade of conflict diamonds and reducing smuggling incentives.

"By enabling producers to extract the full value of their natural resources, the Kimberley Process has helped countries around the world, particularly in Africa, use their diamond revenues to develop and prosper," said Dr. Al Zeyoudi. He stressed the importance of consensus and collaboration to strengthen and refine the KP under its Review and Reform cycle.

Ahmed bin Sulayem announced that for the first time in KP's history, a Special Session of Plenary would be held this Friday to pass key Administrative Decisions and acknowledge best practices. "We may not always get consensus, but we must always search for solutions that strengthen the KP and provide transparency and accountability for our actions," he stated.

Feriel Zerouki, President of the World Diamond Council, discussed key trends in the global diamond industry and urged participants to make progress during the intersessional week. She noted that it would be possible to make decisions mid-year for the first time in KP's history, marking this as an important 'Year of Delivery'.

Jaff Bamenjo, representing the Civil Society Coalition, called on the KP to adopt a more comprehensive approach. "The Kimberley Process should not just be about banning diamonds funding rebel groups but also about harnessing diamond mining to drive development and enhance the economic, social, and physical well-being of communities," he said.

The UAE was the first and only Arab country to Chair the Kimberley Process, an international group tasked with regulating the global diamond trade. Established in 2003 by the United Nations, 85 participating countries aim to ensure that unregulated rough diamonds do not enter the legitimate diamond market as a means to finance conflict. In 2024, the UAE once again assumed the chairmanship of the Kimberley Process.

With inputs from WAM