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Kimberley Process to Readmit CAR, Venezuela

May 29, 2016 9:54 AM   By Rapaport News
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RAPAPORT... The Central African Republic (CAR) and Venezuela are edging closer to a return to the Kimberley Process (KP) following the organization’s intersessional meeting in Dubai last week.

The monitoring team assessing the CAR has “by and large” completed its verification and due diligence on the first shipment of rough diamonds from the country’s Berberati compliant zone, reported Ahmed Bin Sulayem, the United Arab Emirates-based chair of the KP for 2016.

“The Working Group ‎of Monitoring took good notice of the team's hard work and we expect to have full clearance in the next few days,” Bin Sulayem (pictured) said. “This will be a great relief for the people of this country as well as a first step towards the resumption of further exports.”

Discussions are also moving forward regarding Venezuela’s return to the KP, with the South American nation on the verge of being admitted, according to Bin Sulayem. Venezuela exported about 3,000 carats of diamonds per month until it suspended itself from the KP in 2008 after local diamantaires were accused of trafficking uncertified diamonds to evade domestic export taxes.

“I’m confident we’ll see the country re-admitted to full KP membership in the near future,” Bin Sulayem said. Separately, José Khan, director of Venezuela’s central bank, last week told Reuters he expects the country to rejoin the KP this year.
Tags: Ahmed Bin Sulayem, car, central Africa republic, Dubai, exports, Kimberley Process, KP, KP Intersessional, Rapaport News, uae
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