DIAMONDS AND GEMS

DUBAI DIAMOND EXCHANGE REPORT

Dubai reports $3.93B in rough diamonds, 84.6M carats traded in 06

The Dubai Diamond Exchange reported that the total trade in rough diamonds in Dubai reached $3.93 billion last year.

Author: Dorothy Kosich
Posted: Monday , 12 Mar 2007

RENO, NV - The Dubai Diamond Exchange reported that the total trade in rough diamonds in Dubai reached $3.93 billion last year, up from $3.73 billion in 2005.

A total of 84.6 million carats were traded in 2006, up from 71.2 million carats in 2005. Exported carats increased by 23% last year, while the number of carats imported into Dubai increased by 15%.

The Chief Executive Officer of the Dubai Diamond Exchange Youri Steverlynck said the parent company the Dubai Multi Commodities Centre (DMCC) aims to boost the rough diamond trade in the emirate. "Our recently announced Master Plan for the diamond sector commits to developing special programs for mining companies, which will facilitate diamond producers to market their good through Dubai," he said in a news release. "We will also further tighten the co-operation with diamond-producing countries and look for partnerships to the benefit of all."

The master plan is aimed at developing tailor-made solutions for rough diamond producers to market diamonds through Dubai. Additional funding will be allocated to the nation's diamond trade. The strategy also calls for industry forums including a B2B trade fair for the international diamond community.

The UAE is a member of the Kimberley Process Certification Scheme.

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