The Qatar Diamond Exchange signed a memorandum of understanding with the Diamond, Gemstone and Jewelery Association of Southern Africa, with the aim of strengthening cooperation with one of the most important diamond-producing regions in the world.
The Qatar Diamond Exchange explained, in a statement today, that this partnership comes to support its aspirations to raise Qatar’s position to be a vital gateway linking diamond producers in Africa to global markets, based on the country’s distinguished geographical location, advanced infrastructure, and attractive business environment, which contributes to facilitating trade exchanges and opening new investment horizons across the various stages of the global diamond value chain.
The memorandum of understanding was signed by Mr. Ghanem Nasser Al-Saadi, Director of the Qatar Diamond Exchange, and Mr. Molefi Letsiki, Chairman of the Association, in the presence of His Excellency Sheikh Mohammed bin Hamad bin Faisal Al Thani, Chairman of the Board of Directors of the Qatar Diamond Exchange, and Her Excellency Ms. Valerie Lusamba-Kabiya, Ambassador of the Democratic Republic of the Congo to the country.
Under the memorandum, the two sides will work to develop trade relations between their members, facilitate communication between business communities, enhance the exchange of sectoral knowledge and expertise, as well as identify areas of joint cooperation, in addition to providing the opportunity for officials and members of the two institutions to participate in specialized events, tenders, auctions and preview sessions, in addition to exchanging field visits to enhance direct communication.
Mr. Ghanem Nasser Al-Saadi said that the southern African region represents the backbone of the global diamond sector, due to its expertise and long history in this field, noting that this partnership constitutes a prominent platform for building close ties with the diamond community in the region, and opening new outlets for its companies to global markets through the State of Qatar.
He added: “Our goal is to enhance rapprochement between producers, traders and buyers, and to create opportunities that will support the sustainable growth of the sector in the long term.”
For his part, Mr. Molefi Letsiki said: “Our partnership with the Qatar Diamond Exchange opens up a broader scope for our association to communicate with international markets, and provides our members with new opportunities to expand their business activities.”
He continued: “The strategic location of the State of Qatar, in addition to the growth witnessed in its diamond trade system, makes it a promising partner for us. We look forward to this partnership allowing more communication between workers in the diamond sector on both sides, and opening the way for fruitful cooperation that serves the interests of both sides.”
The statement stressed the keenness of both sides to adhere to international standards adopted in the sector, including the “Guarantees System” of the World Diamond Council and the initiatives led by the Responsible Jewelery Council, in a way that enhances transparency and raises the level of professional practices in the sector.
The memorandum of understanding comes as an extension of the efforts of the Qatar Diamond Exchange to build a wide network of international partnerships, which includes specialized institutions and exchanges in the most prominent global diamond markets, including London, Hong Kong, Italy, Tokyo, Shanghai and Singapore. These partnerships reflect the progress made by the exchange in strengthening its international presence and developing the diamond and gemstone trade system in Qatar, which contributes to supporting economic diversification and achieving the goals of the Qatar National Vision 2030.
