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Industry & Economy - Gems & Jewellery
Diamond trade: Kimberley Process meet for cooperation

Our Bureau

New Delhi, Nov. 6 The four-day annual conclave of the Kimberley Process Certification Scheme (KPCS) on regulating global trade in diamonds emanating from “conflict zones” came to an end with a communiqué expressing concern over the continuing challenges to KP implementation in Zimbabwe.

In the final communiqué released at a press conference by Special Secretary in the Department of Commerce, Mr Rahul Khular, who is also the Chairman of the India Conclave, the initiatives by the Working Group on Monitoring (WGM) were appreciated.

The plenary encouraged further work on the issue of cooperation on implementation and enforcement of KP with a view to developing KP guidance on strengthening cooperation in KP on issues such as fake certificates, handling of suspicious shipments and infringements.

WGS report

The Working Group on Statistics (WGS) reported that in 2007 the KPCS monitored $38.7 billion in rough diamond exports, representing more than 470 million carats. Participants issued more than 57,000 KP Certificates to accompany rough diamond consignments traded.

It was also acknowledged that the diamond sector is an important catalyst for achieving poverty reduction and meeting the requirements of the Millennium Development Goals in producing countries. The plenary also placed on record India’s efforts to strengthen the Kimberley Process in 2008 as KP Chair.

Namibia would take over as Chair of the KP from January 1, 2009.

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