Alrosa signs MoU with DDE

A Memorandum of Understanding (MoU) has been signed between Alrosa and the Dubai Diamond Exchange (DDE). The purpose is to improve the cooperation between Alrosa and the UAE diamond community. The agreement was signed in Dubai, between Andrey Polyakov, Alrosa Vice President, and Peter Meeus, DDE Chairman of the Board of Directors, in the presence of Egor Borisov, President of the Republic of Sakha (Yakutia) and Ahmed Bin Sulayem, Executive Chairman of the Dubai Multi Commodities Centre (DMCC).

The agreement will entail both sides to work more closely and exchange knowledge and skills in implementing the Kimberley Process Certification Scheme (KPCS), alongwith market intelligence and information on opportunities, technologies, industry events such as seminars and conferences. Also, Alrosa intends to restart business through its subsidiary sales company Arcos East in Dubai, during the second half of 2014. The company was suspended in 2009 owing to the global financial crisis.