Diamond trade in Dubai exceeds one billion carats within 5 years

Dubai, May 19 / WAM / More than 1.06 billion carats have been traded of rough and polished diamonds across Dubai over the past five years.
Ahmed bin Selim, head of the Kimberly operation, representing the United Arab Emirates, said that the year 2024 alone witnessed the circulation of about 179 million carats of raw and polished diamonds, which strengthens the position of the UAE, one of the largest diamond trade centers in the world.
These numbers were announced during a “two -sessions” meeting of the United Nations approved Kimberly operation, which was hosted by the UAE last week in Dubai in the presence of hundreds of senior representatives of governments, the diamond and civil society sector, and the UAE is currently heading the Kimberly operation for the third time in its history.
The meeting between the two sessions of the Kimberley operation, which spanned a week of high -level discussions and concluded with an exceptional public session, was held for the second time only in the date of the operation extending for 22 years.
Among the most prominent stations of the meeting is the launch of the “Verifico” platform, which was developed under the chairmanship of the UAE with the aim of enhancing the security and tracking of Kimberly’s operation certificates and will be available to all the participants in the process, within the framework of the broader efforts of the UAE to modernize the digital structure of the process of Kimberly.

The meeting witnessed an invitation launched by the UAE to hold the first ministerial meeting of its kind for the participants in the Kimberly process, with the aim of discussing and facing the most urgent challenges facing the process and trade global diamonds.
Ahmed bin Salim stated, during the closing session of the meeting that there are three markets that keep the vitality of the diamond industry at the present time, the first market is the United States, as it is the largest market for jewelry trade in retail, and the second is India, as it is a global center for cutting and refining diamond And polished during the past five years.
He added: “We need the Kimberly process to remain concentrated and coherent, so that we can all support the growth of trade, enhance flexibility, and to advance the wheel of development, and for this purpose, I call for a high -level ministerial meeting of the Kimberley process, which includes the producing, trading and consuming countries at the political level, with the aim of developing a road map to move forward in facing the most urgent challenges facing the Kimberley process.”
His Excellency Safia Hashem Al -Safi, Acting Assistant Undersecretary for the Supervision and Commercial Governance Sector in the Ministry of Economy, said during her speech on the opening day that diamonds formed a pivotal component in the march of our state growth after Dubai has grown to become the first global center for raw diamond trade, a place that still maintains despite the recent challenges in diamond prices, and this achievement is completely in line with the goals of diversifying the economy, and confirms The strategic importance of diamonds for the UAE, and our firm commitment to continuing investment in this vital sector.
The UAE was the first and only Arab country that headed the Kimberly operation in 2016, an international group charged with organizing global diamond trade.

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related