15 September 2015
Dubai, UAE: DMCC
, one of the world's leading commodity hubs and the UAE Ministry of Economy
's authority for the Kimberley Process Certification Scheme, welcomes the selection of the UAE as the Vice-Chair of the Kimberley Process (KP) in 2015. The appointment was recently confirmed through a voting process involving all KP Participants. The UAE will assume the role of Kimberley Process Chair in 2016.
Ahmed Bin Sulayem, Executive Chairman of DMCC, said:
"We are honoured to have been formally selected as Vice Chair in 2015 and to assume the role of Chair of the Kimberley Process Certification Scheme in 2016. Voted by our fellow participants, we have become the first Arab country to hold this position. As Chair, we plan to bring our wealth of experience to the KP, having been a member since 2003, and we look forward to working with related government and industry groups to further enhance and develop the KP through existing and new initiatives."
The UAE will use this opportunity to focus on areas that will have the greatest impact on the growth and development of the diamond industry; these are:
(i) To work together on the growth and reach of the KP whilst consolidating the achievements of the past 12 years - bringing to an end the flow of conflict diamonds globally;
(ii) To strengthen the ties between the three pillars of KP (government, industry and civil society) through active engagement and collaboration;
(iii) To assist newly admitted countries, and those that aspire to join the KP, with technical assistance, training and consensus building through seminars and conferences.
The UAE will be hosting KP participants for intercessional and plenary meetings taking place in Dubai in 2016. This will be a unique opportunity for all KP participants to get first-hand experience of Dubai's infrastructure and trading community which have supported its growth in the industry.
The KPCS was implemented in the UAE in 2003 by the Ministry of Economy, making the UAE the first Arab country to do so. Since then, the Dubai diamond trade, under the auspices of the Dubai Diamond Exchange, has grown at a significant rate and positioned the Emirate as one of the leading rough and polished diamond trading hubs globally.
About the Kimberley Process Certification Scheme
The Kimberley Process Certification Scheme is a collaborative initiative between governments, industry and civil society to stem the flow of conflict diamonds into the diamond trade. Started in 2000, the creation of the Kimberley Process Certification Scheme (KPCS) in November 2002 laid the foundation for the KPCS by setting out the requirements for controlling rough diamond production and trade. It entered into force in 2003, when participating countries started to implement the rules. There are now 54 participants representing 81 countries including the UAE.
In 2003, the UAE adapted its Federal Law "Union Law no.13 Regarding Supervision of Import/Export and Transit of Rough Diamonds" and became the first Arab country to implement the Kimberley Process Certification Scheme. The Kimberley Process office in DMCC is the entity authorised by the UAE Ministry of Economy to authenticate the ethical sourcing of rough diamonds traded in the country.
DMCC is the authority on trade, enterprise and commodities in Dubai--home to the world's leading businesses of today, and tomorrow.
The most successful markets create conditions that enable producers, traders and consumers to thrive. DMCC is a Dubai Government Authority committed to developing these ideal conditions and has a strong track record in commodity trade facilitation where we encourage and support business through the platforms we provide. These include our Free Zone, commodity exchanges, legal and regulatory frameworks and our real estate offering.
DMCC is also developing the 'Burj2020 District' as part of our DMCC Free Zone expansion strategy to provide leading businesses with a commercial property offering unique to the Dubai marketplace.
Indispensable to the economic growth of the nation, we together with our members, deliver strong performance today, and sustainable growth tomorrow. DMCC. Made for Trade. www.dmcc.ae
About Dubai Diamond Exchange
The Dubai Diamond Exchange (DDE) is a DMCC platform and a leading diamond centre based in the Almas Tower. From buyers to sellers to service providers - everything the industry require in terms of infrastructure and a marketplace is available under one roof in a secure environment at Almas Tower including: DDE, vaulting, boiling, certification, transport and logistics services and the Kimberley Process Certification Scheme.
Rupert Young / Jade Mamarbachi
+971 4 446 6270
© Press Release 2015