Dubai: Ahmed Bin Sulayem, the UAE's Chair of the Kimberley Process, has announced that over 1.06 billion carats of rough and polished diamonds have been traded through Dubai over the past five years. In 2024 alone, nearly 179 million carats were traded, reinforcing the UAE's position as a major global diamond trade hub.
According to Emirates News Agency, these figures were revealed during the UN-mandated Kimberley Process Intersessional Meeting held at DMCC's Uptown Tower in Dubai. The event saw participation from numerous senior representatives from governments, industry, and civil society. This marks the third time the UAE has held the Kimberley Process Chairmanship.
The week-long meeting featured significant discussions and concluded with a plenary session, only the second of its kind in the Kimberley Process's 22-year history. A major highlight was the launch of Verifico, a digital platform designed to improve the security and traceability of KP certificates, which will be available to all KP participants. Additionally, the UAE proposed a first-ever ministerial meeting of KP participants to address the pressing challenges facing the Kimberley Process and the global diamond trade.
Ahmed Bin Sulayem emphasized the importance of the UAE, alongside the United States and India, in sustaining the diamond industry. He highlighted the UAE's significant trade volume over the past five years and called for a high-level ministerial meeting to tackle critical issues within the Kimberley Process.
Her Excellency Safeya Hashem Al Safi, during her address, noted the strategic role of diamonds in the UAE's economic growth and diversification. Meanwhile, Feriel Zerouki, President of the World Diamond Council, praised Ahmed Bin Sulayem's leadership and his strategic focus on delivery and best practices over the past two years.
Jaff Bamenjo from the Civil Society Coalition stressed the need for KP reforms, reflecting on the KP Chair's 2024 "Year of Delivery" slogan. The UAE's historical role as the first Arab nation to chair the Kimberley Process in 2016, and its ongoing leadership into 2025, underscores its commitment to enhancing the effectiveness and transparency of the diamond trade.
In 2025, under the theme "Year of Best Practice," the UAE aims to continue building on the achievements of its 2024 term, furthering the integrity of the Kimberley Process.