This week Moscow hosted a plenary meeting of the Kimberley Process with the personal participation of those who were able to attend the event, despite the global restrictions on holding physical-presence meetings.
Russia and Belgium signed a memorandum of understanding on the electronic exchange of information regarding KP certificates.
The signing was attended by representatives of the Federal Customs Service of Russia and the Federal Economic Service of Belgium.
This Memorandum is intended to accelerate the turnover of diamond products between business partners of Russia and the EU countries – by way of prompt delivery of statistical data on the diamond import and export, as well as by way of automated data processing. The global transition to digital exchange of certificates has been declared as one of the priorities of the Russian KP chairmanship this year.
At the end of last year, Russia’s diamond exports to Belgium accounted for more than 51% of the total volume of exported stones, while the diamond trading center in Antwerp accounts for more than 95% of the European Union's import and export operations. Within the Kimberley Process, it is represented by a single delegation.
Alexey Moiseev, Chairman of the KP and Deputy Minister of Finance of the Russian Federation said that given the comparable IT infrastructure and legislation within the EAEU, the Ministry of Finance of Russia plans to scale the project across the entire Union: “In 2021, Russia also initiated a dialogue on the launch of similar digitalization projects with other key trading partners within the KP - India and the UAE. It is planned that their practical implementation will begin next year."
Russia also conducted pilot exchanges of information on KP certificates with the Republic of Belarus this year - thanks to established trade relations, harmonized legislation, and the participation of Belarus in the EAEU and in the KP. Due to the absence of a customs border between the countries, the project is being implemented on the basis of the infrastructure of the Gokhran of Russia and the Ministry of Finance of the Republic of Belarus.
“The transition to digital exchange of KP certificates, which are now being issued on paper, will simplify and speed up the procedures for issuing them,” noted Alexey Moiseev. “In addition, digital documents are a guarantee of the legitimacy of each shipment of diamonds. Russia has always been in favor of promoting the principles of openness in the global diamond trade."
At the plenary session of the KP Russia presented the first pilot projects of digital data exchange with key trading partners in the diamond industry, the press release of the event says.
Galina Semyonova for Rough&Polished
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