BAKU, Azerbaijan, January 19. Azerbaijan will introduce state control over the import, export, use, circulation, accounting, storage, and tracking of unprocessed diamonds, Trend reports.
This measure is included in a draft law discussed today by the Legal Policy and State Building Committee of the Azerbaijani Parliament, which proposes amendments to the Law on Precious Metals and Precious Stones.
Under the draft, unprocessed diamonds are defined as raw, simply carved, fragmented, or broken stones identified according to foreign economic activity nomenclature codes by the relevant state authority.
State oversight of unprocessed diamonds, including their import, export, use, circulation, accounting, storage, and tracking, will be carried out by the authority designated by the relevant executive body. The law also establishes that certification requirements related to the export of unprocessed diamonds will follow the Kimberley Process Certification Scheme (KPCS), with the form and issuance of certificates determined by the designated authority.
Imports and exports of unprocessed diamonds will be allowed only from countries participating in the Kimberley Process Certification Scheme (KPCS) and will require approval from the relevant executive authority. Once adopted, the law will formalize procedures for monitoring, controlling, and certifying unprocessed diamonds in accordance with international standards.
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