Modified Regime for Trade in Rough Diamonds

150 150 Rapaport News

Brussels, 11 February 2003

6159/03 (Presse 39)

DECISION TAKEN BY WRITTEN PROCEDURE

MODIFIED REGIME FOR TRADE IN ROUGH DIAMONDS

The Council adopted today by written procedure a Council Regulation aimed at ensuring, as far as the Community is concerned, that all members of the World Trade Organisation (WTO) that fulfil the requirements of the “Kimberley Process” certification scheme for international trade in rough

diamonds may participate in the scheme.

The Kimberley Process certification scheme is aimed at breaking the link between the diamond trade and the financing of armed conflicts. The result of efforts by the international community to control more effectively the trade in rough diamonds, the Kimberley Process is a dialogue launched

at the initiative of producer and trading countries, in particular African producing countries, as well as the diamond industry itself and representatives of civil society.

In December, the Council adopted a Regulation (no. 2368/2002) implementing the scheme by setting up a system of certification and import and export controls for rough diamonds in the Community. The Regulation adopted today amends Regulation 2368/2002, in particular as concerns the definition of eligible participants, so as to enable WTO members fulfilling the requirements of the Kimberley Process to participate.

________________________

Leave a Reply

Your email address will not be published.