UAE Set To Host KP Intersessional Meeting Next Week

UAE Set To Host KP Intersessional Meeting Next Week

DMCC said the Kimberley Process (KP) Intersessional Meeting will begin on 13th May in Dubai at its headquarters in Uptown Dubai. The Intersessional will see a global gathering of diamond industry representatives, civil society and world governments arrive in Dubai for a week-long series of meetings and discussions. The UAE is currently chairing the UN-mandated KP for a historic second time in 2024.

The five-day intersessional meeting serves as a crucial mid-year stocktake in this year’s KP programme, offering a platform for members and participants to assess progress and tackle pressing issues impacting the global diamond trade.

Under the UAE’s 2024 programme titled “Year of Delivery”, which is focused on delivering concrete results to secure the body’s long-term security, efficiency and operationalisation, the UAE has secured a historic special plenary to accelerate decision-making during the week.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, who is also the UAE’s Chair of the Kimberley Process for 2024, said: “With a confluence of geopolitical pressures and market forces, the global diamond industry stands at a critical juncture. The intersessional gives us a golden opportunity to propel our agenda forward and take decisions to drive the long-term future of the Kimberley Process for 2024 and beyond. This is why I am delighted that the UAE has secured a special plenary session, which will fast-track our ability to drive discussions and resolutions which are critical for the prosperity of the global diamond community and producer nations, especially Africa that depend on the Kimberley Process.”

The KP is an international group tasked with regulating the global diamond trade. Established in 2003 by the United Nations, 85 participating countries seek to ensure that unregulated rough diamonds do not enter the legitimate diamond market as a means to finance conflict. In 2016, the UAE was the first and only Arab country appointed to the annual Chairmanship.

The Kimberley Process Certification Scheme (KPCS) in the UAE falls under the Ministry of Economy, which has, in turn, authorised DMCC to manage the nation’s import and export procedures for rough diamonds. Last year, the UAE recorded multiple year growth for its trade in rough and polished diamonds which reached a combined value of $38.3 billion.

Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.