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UAE MoE signs MoU with DMCC to coordinate on rough diamond Kimberly Process
It envisages supporting and enhancing cooperation between the two sides concerning the supervision of import, export and transit of rough diamonds
By: Diamond World News Service
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Dec 28 2015 4:07PM
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Reference: 12483  

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In a significant development, the Ministry of Economy and DMCC have come together and signed a memorandum of understanding to support and enhance cooperation and coordination between the two sides concerning the supervision of import, export and transit of rough diamonds to and from the country, in line with the Kimberly Process Certification Scheme on the international trade of rough diamonds, reports Emirates News Agency. 

The formal agreement  was signed by Abdullah bin Ahmed Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade and Industry, and Ahmed bin Sulayem, Executive Chairman of DMCC and the 2016 Kimberly Process Chair, in the presence of Juma Al Kait, Assistant Under-Secretary of the Ministry of Economy for Foreign Trade and Industry, Hind Al Youha, Director of the Foreign Trade Policies at the  Ministry of Economy , Maryam Al Hashemi, Director of the UAE Kimberly Process Offices, and a number of heads of departments and officials from both sides. 

As per the guidelines of MoU, DMCC will be entrusted by the ministry to issue Kimberly Process certificates in accordance with the provisions of EU law and in consistence with the Kimberly Process Certification Scheme. The ministry will issue necessary regulations and resolutions to implement the Kimberly Process in line with national and international development in this field. The two sides will also employ their expertise and technical and logistic capabilities to implement any initiatives, programmes and activities that serve to promote the diamond industry in the UAE in line with the best international practices. 

 The memorandum also envisages that the two sides will form a Kimberly Process Committee to follow up on the mechanisms and procedures required, to plan and develop new programmes related to the process, and find appropriate solutions to any obstacles facing the implementation of the agreement. 

Speaking on the occasion, Abdullah Al Saleh said that diamonds, precious stones and related jewelry are a major element of the UAE’s foreign trade, and that the UAE has a globally distinguished status in this industry. He pointed out that the ministry is keen to cooperate with concerned parties to take all necessary measures to regulate and develop this industry in line with the best relevant international practices.

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