Page 140 - MOE ENGLISH PR REPORT - MAY 2025 ( Part 2)

Rough diamond trading hub

Safeya Hashem Al Safi, Acting Assistant Undersecretary at the UAE Ministry of Economy, noted that
Dubai’s rise as a diamond trade hub aligns with the country’s economic diversification goals. “From
humble beginnings, Dubai has grown to become the world’s leading rough diamond trading hub,”
she said.

Feriel Zerouki, President of the World Diamond Council, acknowledged the progress made under
the UAE’s leadership of the KP, particularly in terms of stakeholder collaboration and reform
momentum.
Meanwhile, Jaff Bamenjo, representing the Civil Society Coalition, emphasised the importance of
delivering on reform goals. He stated that the Coalition expects the KP to make meaningful progress
during the final year of its current reform cycle.

UAE's role in Kimberley Process

The UAE first chaired the Kimberley Process in 2016 and is the only Arab country to have done so.
Its second term as Chair was in 2024, followed by a continuation into 2025.
Under the leadership of Bin Sulayem, who also serves as Executive Chairman and CEO of DMCC
(Dubai Multi Commodities Centre), the UAE aims to build on previous efforts to enhance
transparency, efficiency, and cooperation within the Kimberley Process.

The 2025 term is positioned as a continuation of recent initiatives, with a focus on implementing
best practices and further strengthening the global diamond trade’s regulatory environment.
Why this matters for consumers and investors

While most buyers only see the sparkle, diamond traceability is fast becoming a priority for
consumers concerned about ethics and origin. For investors, too, Dubai’s billion-carat
milestone signals confidence in the emirate’s status as a global commodities powerhouse—
especially as diamonds begin to emerge as a more structured asset class. As the world moves
toward more sustainable and transparent supply chains, the UAE’s leadership of the
Kimberley Process could shape how diamonds are sourced, tracked, and sold for years to
come. And if the numbers are anything to go by, Dubai’s grip on the diamond trade isn’t just
holding—it’s sparkling.

https://bazaartimes.com/uae-launches-digital-diamond-traceability-platform-as-dubai-hits-1-
billion-carats-traded/