Dubai has traded more than 1.06 billion carats of rough and polished diamonds over the past five years, according to Ahmed Bin Sulayem, Chair of the Kimberley Process (KP) and Executive Chairman and CEO of the Dubai Multi Commodities Centre (DMCC). In 2024 alone, the emirate facilitated the trade of nearly 179 million carats, reaffirming its position as a global diamond trading hub.

The announcement was made during the Kimberley Process Intersessional Meeting, held in Dubai, which brought together hundreds of stakeholders from governments, industry, and civil society. The gathering focused on strengthening traceability, governance, and sustainability in the global diamond supply chain. This marks the UAE’s third term as KP Chair, and the second consecutive year it has led the initiative.

A major highlight of the event was the launch of Verifico, a digital platform designed to enhance the traceability and security of KP certificates. The platform is being made available to all KP participants as part of the UAE’s broader push toward digital transformation in the diamond trade.

Bin Sulayem also called for the first-ever ministerial meeting of KP member states to address mounting global challenges in the diamond industry. Highlighting the critical role of major markets, he stated: “The US, India, and the UAE are the key pillars sustaining the global diamond trade. The Kimberley Process must stay focused to ensure we support growth, resilience, and sustainable development.”

Opening the conference, H.E. Safeya Hashem Al Safi, Acting Assistant Undersecretary at the UAE Ministry of Economy, emphasized Dubai’s journey: “From modest origins, Dubai has risen to become the world’s leading rough diamond trading center. This reflects our economic diversification strategy and our long-term commitment to the diamond sector.”

Feriel Zerouki, President of the World Diamond Council, praised Bin Sulayem’s leadership: “His vision—defining the past two years as the ‘Year of Delivery’ and ‘Year of Best Practice’—provided the clarity and unity needed to overcome long-standing challenges.”

Jaff Bamenjo, from the Civil Society Coalition, echoed the call for meaningful progress: “The KP must deliver on long-promised reforms. A collective, renewed commitment is essential to achieve credible progress during this final year of the current KP reform cycle.”