Delay Expected For Kimberley Process Kick-off
December 09, 02
In a meeting in London today, the proposed January 1st implementation date for the Kimberley Process will come under review as KP Chairman Abbey Chikane meets with Clive Wright, Head of the U.K.’s Government Diamond Office and De Beers representatives. The Process was scheduled for simultaneous enactment on January 1st, yet a month’s delay appears to be necessary, as several of the involved governments have stated that they will be unable to meet the January deadline.
The system calls for a blanket bar on the trade of any rough diamonds with countries that are not signatories to the Process. This prohibition is seen as “unilateral trade sanctions”, an issue that is prohibited under World Trade Organization (WTO) rules.
“The diamond industry is ready to implement the Process,” averred Shmuel Schnitzer, President of the World Federation of Diamond Bourses (WFDB). “The issue at the moment is the readiness of several governments, some of whom cannot implement the Kimberley Process without having a waiver from the WTO.”