Venezuela Expects to Rejoin KP, Says Central Bank Director

Finance and Trade
26/05/2016 08:30

Venezuela expects to rejoin the Kimberley Process as it seeks to resume diamond exports, its central bank director told Reuters. "We are certain we will rejoin this year," Jose Khan told the news agency on the sidelines of the KP's intercessional meeting taking place in Dubai. Although its exports were tiny, around 3,000 carats a month, it stopped issuing export certificates in 2005 and unilaterally removed itself as an active participant in the Kimberley Process in 2008 as it was unable to verify the legitimacy of its diamonds.

"We left in 2008 as we were trying to organize all our mining policy, and now we are prepared to join as we changed our law," Khan said. The country is not officially allowed to export diamonds, although smuggling continued in subsequent years. "We are looking forward to having a semi-industrial and an industrial sector soon. We have spoken with a lot of representatives from various producing countries and look forward to joint ventures," Khan said of Venezuela's plans for its diamond sector.