admin
exposing the hypocrisy of Western governments that claim to be democratic while engaging in unfair trade practices, a Cabinet minister has said.
Addressing the Dubai Diamond Conference which began here yesterday, the Minister of Mines and Mining Development, Dr Obert Mpofu, called for the removal of the illegal sanctions.
Despite attaining full certification under the Kimberley Process Certification Scheme (KPCS) to mine and export diamonds, Zimbabwe was still being vilified by the US and the EU.
“Zimbabwe diamonds continue to face resistance from other countries for reasons outside the framework of the KPCS, that is sanctions. We again repeat our call for the removal of sanctions on Zimbabwe and on our diamond trade in particular.
“Zimbabwe diamonds are still being denied market space unjustifiably. The country is unable to trade its diamonds freely like other KP-compliant countries,” he said.
Dr Mpofu said companies wishing to trade with Zimbabwe risked confiscation of their funds by the US government’s Office for Foreign Assets Control (Ofac).
“This, therefore, has resulted in the local diamond industry being slowed from realising its full potential. The very same proponents and champions of globalisation have disregarded and operated against the provisions of the World Trade Organisation which promotes fair trade and unrestricted trade among nations,” he added.
Africa could no longer be treated as a small player in world diamond trade, he said.
“Africa is currently contributing in excess of 60 percent of the world’s current rough diamond production. Of that 60 percent, Zimbabwe accounts for a significant portion of that volume, with the potential to contribute in the short term 25 percent of the world’s rough diamond production by volume,” said Minister Mpofu.
African producers considered Dubai a viable partner as shown by their active participation at the conference, whose theme is “The New Silk Route”, said Dr Mpofu.
“The presence of African producers of diamonds at this forum is a strong message to the industry that we consider our diamond business relationship with the Emirate of Dubai seriously important and deserving to be strengthened and cultivated by our participation in this forum,” he said.
Related Stories…
The minister thanked the United Arab Emirates, the African Diamond Producers’ Association, the World Diamond Council, the World Federation of Diamond Bourses, the International Diamond Manufacturers’ Association and the Kimberley Process grouping for supporting Zimbabwe’s just cause.
Beyond the struggle with the KPCS, Zimbabwe’s present thrust is focused on fully implementing the recently formulated Zimbabwe Diamond Policy.
“The policy provides for optimisation of the exploitation of diamonds throughout their entire value chain from exploration, through mining, beneficiation, value addition to marketing.
“The policy further seeks to guarantee accountability of the diamond industry while facilitating the creation of an environment that attracts investment in the sustainable exploitation of the country’s diamonds governed by the country’s laws and international best practice,” said Minister Mpofu.
The true potential of Zimbabwe’s diamond sector was yet to be realised, he noted.
“More deposits are being discovered thus providing additional prospects for more investment opportunities to willing investors. There are other recent fascinating discoveries, and my message to you is that let’s walk together, we will go far,” he added.
The Dubai Diamond Conference brings together producers, cutters, polishers, investors and financiers.
Online Reporter