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Significance
As part of the meeting, the United Arab Emirates (UAE) hosted a joint forum with the OECD to address a key problem facing the diamond industry -- the absence of universal standards, particularly regarding pricing. The meeting comes at a time of considerable activity to tackle the problem of conflict minerals.
Impacts
Notwithstanding efforts to improve governance, the Kimberley Process will face criticism for failing to contain the conflict diamond trade.
US legislation to tackle conflict mineral trades in the DRC through mandatory standards may face further legal challenges.
The EU may be able to break the deadlock on its proposed voluntary framework but not before year-end.
Keywords:
International,
INT,
China,
Congo-Kinshasa,
United Arab Emirates,
industry,
civil war,
crime,
foreign trade,
human rights,
international law,
mining,
natural resources,
security,
talks,
war,
prices
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2016
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