Dubai Ministry of Economy and DMCC Sign Rough Diamond Transport MoU

(IDEX Online News) – Dubai’s Ministry of Economy and the Dubai Multi Commodities Centre (DMCC) have signed a Memorandum of Understanding (MoU) designed to increase the emirate’s adherence to the Kimberley Process Certification Scheme (KPCS) with regard to the import and export of rough diamonds.

According to the terms of the MoU, the DMCC will be entrusted by the ministry to issue KP certificates, reported the Emirates News Agency (WAM).

The two sides will form a KP Committee to follow up on the mechanisms and procedures required, to plan and develop new programs related to the process and to promote the diamond industry in the UAE.  

The agreement was signed by Abdullah bin Ahmed Al Saleh, under-secretary of the Ministry of Economy for Foreign Trade and Industry, and Ahmed bin Sulayem, Executive Chairman of DMCC and the 2016 Kimberly Process chair.