DMCC announced that the Kimberley Process (KP) Intersessional Meeting will commence on May 13th at its headquarters in Uptown Dubai. The Intersessional will bring together representatives from the diamond industry, civil society, and governments from around the world for a week of meetings and debates in Dubai. The UAE is currently chairing the UN-mandated KP for the unprecedented second time in 2024.
The five-day intersessional meeting serves as a critical mid-year stocktake for this year’s KP programme, providing a forum for members and participants to assess progress and address key challenges affecting the global diamond trade.
The UAE has obtained a historic special plenary to speed decision-making throughout the week as part of its 2024 “Year of Delivery” agenda, which is focused on achieving concrete outcomes to safeguard the body’s long-term security, efficiency, and operationalisation.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, who is also the UAE’s Chair of the Kimberley Process for 2024, stated, “With a convergence of geopolitical pressures and market forces, the global diamond industry is at a critical juncture.” The intersessional provides us with an excellent opportunity to advance our agenda and make decisions that will shape the long-term future of the Kimberley Process in 2024 and beyond. This is why I am thrilled that the UAE has secured a special plenary session, which will expedite our ability to promote discussions and resolutions important to the prosperity of the global diamond community and producer nations, particularly Africa, which rely on the Kimberley Process.”
The KP is an international organization charged with regulating the global diamond trade. Established in 2003 by the United Nations, the 85 participating countries want to ensure that unregulated rough diamonds do not enter the legitimate diamond market to fund conflict. In 2016, the UAE became the first and only Arab country to hold the yearly Chairmanship.
The UAE’s Kimberley Process Certification Scheme (KPCS) is overseen by the Ministry of Economy, which has approved DMCC to administer the country’s raw diamond import and export procedures. Last year, the UAE experienced multi-year rise in its trade in raw and polished diamonds, which totaled $38.3 billion.