Page 147 - MOE ENGLISH PR REPORT - MAY 2025 ( Part 2)

5/26/25, 4:26 PM UAE: 1.06 Billion Carats of Diamonds Traded via Dubai

UAE: Over 1.06 Billion Carats Of Diamonds Traded
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Through Dubai In Past Five Years

Alifiya Shaiwala
May 19, 2025 Gulf Standard Time: 5:03 pm

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More than 1.06 billion carats of rough and polished diamonds have passed through Dubai over the past five years, cementing the city’s
status as a global diamond powerhouse. In 2024 alone, nearing 179 million carats were traded, according to Ahmed Bin Sulayem, Chair
of the Kimberley Process (KP) and Executive Chairman and CEO of the Dubai Multi Commodities Centre (DMCC).

The announcement was made during the Kimberley Process Intersessional Meeting, hosted in Dubai, where global stakeholders from
government, industry, and civil society gathered to discuss the future of the international diamond trade and ongoing reform efforts.

This year marks the UAE’s third term—and second consecutive year—chairing the Kimberley Process, a multilateral initiative aimed at
eliminating the trade in conflict diamonds. Under its leadership, the UAE has sought to modernize and strengthen the global diamond
supply chain.

A major highlight of the meeting was the official launch of Verifico, a digital platform developed by the UAE to enhance the traceability
and security of KP certificates. The platform is now being made available to all KP participants, representing a significant step toward the
digital transformation of the diamond certification process.
“Verifico is a critical tool for ensuring transparency and security in our industry. It reflects the UAE’s commitment to innovation and
progress within the Kimberley Process,” said Bin Sulayem. He also proposed convening the first-ever ministerial meeting of KP member
countries to address key challenges facing the diamond sector.

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