Dubai Strengthens Global Diamond Trade with Over 1 Billion Carats Traded in Five Years
Dubai has solidified its position as a leading global diamond trading hub, with over 1.06 billion carats of rough and polished diamonds transacted through the city over the past five years. In 2024 alone, nearly 179 million carats were traded, underscoring the United Arab Emirates' pivotal role in the international diamond market.
These figures were disclosed by Ahmed Bin Sulayem, Chair of the Kimberley Process and Executive Chairman of the Dubai Multi Commodities Centre , during the UN-mandated KP Intersessional Meeting held at Uptown Tower in Dubai. The event convened hundreds of representatives from governments, industry, and civil society, marking a significant milestone in the UAE's third tenure as KP Chair.
Under the theme 'Year of Delivery,' the UAE's 2024 chairmanship focused on implementing substantial reforms within the KP framework. A notable achievement was the introduction of a blockchain-based digital certification system, transitioning from traditional paper certificates. This innovation aims to enhance the traceability and security of diamond transactions, ensuring greater transparency in the supply chain.
Another significant development was the readmission of the Central African Republic into the KP. After a decade-long embargo due to internal conflicts, CAR's reinstatement followed a comprehensive review and improved security conditions. Ahmed Bin Sulayem's direct engagement with CAR authorities facilitated this process, reflecting the UAE's commitment to integrating diamond-producing nations into the global market responsibly.
The KP also welcomed Uzbekistan as its 60th member, expanding the coalition's reach and reinforcing its mission to prevent conflict diamonds from entering the mainstream market. This inclusion signifies the KP's growing influence and the increasing global consensus on ethical diamond trading practices.
In a move to institutionalize the KP's operations, a permanent secretariat was established in Gaborone, Botswana. This development aims to provide continuity and enhance the administrative efficiency of the KP, ensuring sustained efforts toward conflict-free diamond trade.
The UAE's leadership also garnered international recognition through a resolution adopted by the United Nations General Assembly. Titled 'The Role of Diamonds in Fueling Conflict,' the resolution, co-sponsored by 37 countries, acknowledged the UAE's initiatives in promoting ethical practices within the diamond industry.
Industry leaders and civil society representatives lauded the UAE's efforts. Feriel Zerouki, President of the World Diamond Council, emphasized the importance of innovation and transparency in maintaining the integrity of the diamond trade. Jaff Bamenjo, representing the Civil Society Coalition, highlighted the significance of engaging with diamond-affected communities to ensure equitable benefits from the industry.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
2 days ago
- Zawya
Food and Agriculture Organization of the United Nations (FAO) South Sudan Hosts Peer Review Meeting on Resilience Interventions in Seed Systems
FAO South Sudan convened a peer review meeting to validate findings on the effectiveness of its seed system investments across five states in the country. Held on 9 May 2025, the event was geared to assess and strengthen the draft report ' Assessing the Effectiveness of Resilience Interventions Through Investments in Seed Systems. ' The meeting aimed to validate the report's findings and ensure its credibility, relevance, and practical value in informing resilience programming across the country. The event brought together representatives from FAO, relevant partners, and technical experts from the United Nations, non-governmental organizations, research institutions, and civil society organizations. Participants provided feedback on a report assessing FAO's investments in community-based seed production, seed fairs, and direct seed distribution. The evaluation used the Resilience Index Measurement and Analysis II (RIMA-II) methodology to address the 'what' of the outcomes and was complemented by a qualitative tool to explore the 'why' behind the observed results. 'Strengthening local seed systems – including traditional varieties – alongside promoting commercial seed production is essential to support agriculture in South Sudan.' - Felix Dzvurumi, Head of Programme, FAO South Sudan. In addition to the peer review, the results of the assessment will be reviewed and discussed in two further forums before publication: the South Sudan Food Security and Livelihoods Cluster (FSLC) and the FAO South Sudan Donor Update Meeting. These engagements aim to ensure broader validation, alignment with partner priorities, and readiness for implementation. The assessment, which covered 13 counties in five states, explores the impact of seed system interventions on five resilience capacities: Preventive, Anticipative, Absorptive, Adaptive, and Transformative. The peer review was conducted as part of FAO's Lessons Learning and Knowledge Sharing Initiative on Resilience in Africa, coordinated by the FAO Regional Office for Africa (RAF). The initiative fosters collaboration and the exchange of best practices across the continent. 'Generating and using evidence is central to strengthening resilience. Peer reviews help country offices ensure the quality, accuracy, and relevance of knowledge generated, support the application of lessons, promote cross-country learning, and scale up what works in a consistent and impactful way.' - Jacqueline Were, Emergency and Rehabilitation Officer, FAO RAF Resilience Team. Key outputs from the meeting included: A revised report integrating expert and stakeholder feedback. A peer review summary document capturing insights, strengths, gaps, and recommendations. A comprehensive meeting report outlining discussions, action points, and follow-up steps. By documenting South Sudan's experience and ensuring alignment with regional learning efforts, the meeting contributes to improved implementation of resilience programming, risk mitigation, and sustainable development outcomes across Africa. 'I found this peer review to be both informative and engaging, exceeding my expectations. I appreciate the opportunity to participate in this meeting and learn from FAO's resilience interventions in seed systems.' - Isaac Jebaseelan, Roving Coordinator, South Sudan FSLC. ' The peer review on how seed systems contribute to resilience aligns with the Food Security and Livelihoods Cluster's efforts to promote the sustainability of local seed production and ensure its timely availability to local farmers, thereby supporting collective initiatives aimed at enhancing food security in South Sudan.' - Mat Gai, Cluster Coordinator, South Sudan FSLC. To save lives, safeguard livelihoods, and build resilience in South Sudan, FAO implements one of the largest resilience programs in Africa. FAO defines resilience as the capacity of individuals, households, and communities to withstand and recover from shocks while maintaining development gains and advancing peace and well-being. This meeting forms part of a broader initiative led by FAO RAF to elevate resilience learning and enhance knowledge exchange across African countries. Distributed by APO Group on behalf of Food and Agriculture Organization of the United Nations (FAO): Regional Office for Africa.
The National
2 days ago
- The National
World Environment Day 2025 focuses on ending plastic pollution
Communities, businesses and governments around the world observed World Environment Day on Thursday with more than 2,500 events globally. The theme for 2025 - #BeatPlasticPollution - calls for collective action to tackle the issue. The annual social and environmental cost of plastic pollution ranges from US$300 billion to US$600 billion, according to the United Nations Environment Programme. It said that by 2040, plastic leakage to the environment is predicted to grow by 50 per cent, and that pollution enters our bodies through food, water and the air we breathe. The World Environment Day ceremony was held in Jeju, South Korea. International leaders, including UAE President Sheikh Mohamed, reaffirmed their commitment to protecting the planet. In his message for World Environment Day, UN Secretary General Antonio Guterres said: 'Plastic waste clogs rivers, pollutes the ocean, and endangers wildlife. And as it breaks down into smaller and smaller parts, it infiltrates every corner of Earth: from the top of Mount Everest to the depths of the ocean; from human brains to human breastmilk.' 'Yet there is a movement for urgent change. We are seeing mounting public engagement, steps towards reusability and greater accountability and policies to reduce single-use plastics and improve waste management. But we must go further, faster,' he added.
The National
3 days ago
- The National
Belgium exploring plan to drop aid into Gaza amid 'shameful' humanitarian crisis, says Foreign Minister
Belgium is exploring the possibility of using aircraft to drop aid into Gaza, Foreign Minister Maxime Prevot has told The National, as the humanitarian situation in the enclave continues to deteriorate. Israel ended an 11-week blockade on Gaza last month, but only a limited amount of humanitarian assistance has since entered through the UN and newly established Gaza Humanitarian Foundation (GHF) – a controversial US and Israeli-backed private organisation that is overhauling aid distribution in the war-torn strip. The foundation began distributing aid last week as Gaza's 2.3 million people face widespread hunger, with many having been displaced by the conflict. But its operations, which circumvent traditional humanitarian agencies, have drawn criticism from the UN and major aid groups for failing to adhere to established humanitarian principles. 'We are trying to push, together with other European partners, to open a broader corridor for aid trucks coming from international donors through Israel to enter Palestinian territories,' said Mr Prevot, who is also Belgium's Deputy Prime Minister. 'In parallel, we are also studying whether it is possible and pertinent to drop additional aid by aeroplane. What we are seeing on the ground is shameful and we urgently need to improve the international community's response.' The GHF said it would temporarily suspend operations on Wednesday after three days of bloodshed around its aid sites. On Tuesday, at least 27 Palestinians were killed and dozens injured by Israeli fire near a food distribution site in Rafah, Gazan health officials said. The Israeli military said troops opened fire after a group of people deviated from a designated access route and approached their positions near the distribution site. 'Cutting off assistance on a voluntary basis to children, women and civilians and denying them access to water, food, health care and electricity is totally unacceptable,' said Mr Prevot. 'It is clearly a violation of human rights.' Israel has faced mounting international criticism over its actions in Gaza, with the EU, in particular, adopting a noticeably tougher tone. However, observers argue that the bloc is unlikely to reach a unified position on Israel. Any common foreign or security policy within the EU requires unanimous agreement among all 27 member states – a requirement that has led to accusations of inaction, or imposing only minimal pressure on Israel over the situation in Gaza. The EU last month launched a review to assess whether Israel is in compliance with the human rights provisions laid out in its association agreement with the bloc, a move supported by 17 of its 27 member states. Mr Prevot said the Belgian government had urged EU partners to expand the current sanctions list, which includes violent Israeli settlers and some Hamas figures, to include additional political and military leaders from Israel and Hamas. 'This is currently under discussion and we hope it will be possible to reach a common decision among all EU member states,' he said. Two-state solution Later this month, France and Saudi Arabia will lead a UN conference on the two-state solution in New York. Paris has been pushing European countries, including the UK, the Netherlands and Belgium, to jointly recognise the state of Palestine at the peace conference. 'The question is not whether we intend to recognise Palestine, but when,' said Mr Prevot. 'Our main goal is to achieve a two-state solution. However, that should normally be accompanied by the release of all hostages, an end to Hamas governance in Gaza and the establishment of a strong Palestinian leadership.' He emphasised that securing a sustainable ceasefire in Gaza and addressing the immediate humanitarian emergency must remain top priorities. Gulf tour Gaza and other regional flashpoints were high on the agenda during Mr Prevot's tour of the Gulf this week, which included visits to Qatar and the UAE. In Abu Dhabi, he met Sheikh Abdullah bin Zayed, Deputy Prime Minister and Minister of Foreign Affairs. The two officials discussed bilateral relations and ways to expand co-operation across various fields, including the economic, trade and investment sectors, the UAE's Ministry of Foreign Affairs said in a statement. 'The UAE is Belgium's second-largest commercial and trading partner among Arab countries. We already have strong ties; it's time to deepen them,' Mr Prevot said. 'Belgium can serve as a gateway to Europe – we are the world's leading diplomatic hub and host all European institutions. It's also crucial to create new opportunities in sectors such as defence and energy. 'The UAE offers credibility, stability and is a key geopolitical partner in this region." The UAE and the EU have recently launched free trade talks, aiming to boost economic ties and market access amid global trade uncertainty. Relations with Belgium are seen as especially important, given that Brussels serves as the EU's capital. Cautious engagement with Iran Mr Prevot also noted that Belgium maintains a critical engagement with Iran. 'On the one hand, we are confronted with some irritants: hostage diplomacy, military support to Russia in its aggression of Ukraine, support to entities destabilising the region and, of course, the nuclear file,' he said. 'On the other hand, we believe that the solution will be achieved not by force but by dialogue.' The US and Iran have been engaged in nuclear negotiations since April, with Oman acting as mediator. These talks, which have taken place in Muscat and Rome, aim to address concerns over Iran's advancing nuclear programme and explore pathways to revive or replace elements of the 2015 nuclear deal. While the negotiations have faced challenges, including disagreements over uranium enrichment levels and sanctions relief, both sides have agreed to continue dialogue. 'We support the negotiations between the US, but also some European countries, with Iran to reach an agreement," Mr Prevot added. "If it does not lead to a positive result, we would only regret it. Activating the snapback clause reviving sanctions would be likely.'
