The Central African Republic (CAR) has recently achieved a significant milestone in its diamond industry by successfully lobbying for the lifting of a decade-long export embargo on its diamonds. The Kimberley Process (KP), the international regulatory body overseeing the global diamond trade, approved CAR’s request during its plenary session in Dubai. This decision marks a critical step forward for the country’s economy and diamond sector.
The export embargo was initially imposed in 2013 during CAR’s civil war to prevent the sale of conflict diamonds, also known as “blood diamonds.” This ban severely impacted CAR’s lucrative diamond trade, which was valued at around $50 million annually in 2011. The recent decision by the KP to lift the sanction is a clear indication of the progress made by CAR in meeting the Kimberley Process’s traceability requirements for diamonds.
CAR has been actively advocating for the removal of the ban in recent years, citing improved security conditions and the establishment of systems to ensure compliance with the Kimberley Process. While the civil conflict in CAR has eased since 2018, challenges such as sporadic violence and poverty persist, making the lifting of the embargo a crucial development for the country’s fragile economy.
The embargo had been partially eased in 2015 and 2018, allowing for limited diamond exports from specific mining zones. With the complete lifting of restrictions, all 24 diamond mining areas in CAR are now open for business, presenting new opportunities for the country’s diamond industry.
Diamonds, along with gold, are among CAR’s most valuable resources. The country has issued mining and research permits to various international entities, including Chinese, American, Rwandan, and Russian firms, some of which are associated with the Wagner mercenary group. This move is expected to boost the country’s economy and create new avenues for growth and development in CAR’s diamond sector.
Overall, the lifting of the export embargo on CAR’s diamonds is a positive step towards revitalizing the country’s diamond industry and driving economic growth. It represents a significant opportunity for CAR to leverage its natural resources and strengthen its position in the global diamond market.
