BAKU, Azerbaijan, February 20. The import, export, use, circulation, accounting, storage, and tracking of unprocessed diamonds will be controlled by the government in Azerbaijan, Trend reports.
The issue is reflected in the draft law on amendments to the law "On precious metals and gemstones," which was discussed at today's plenary session of the parliament.
According to the draft law, unprocessed or simply cut, split, or broken precious stones, the list of which is determined by the codes of the commodity nomenclature of foreign economic activity by the body (institution) determined by the relevant executive authority, will be considered unprocessed precious stones.
The government control in the import, export, use, circulation, accounting, storage, and tracking of unprocessed diamonds will be exercised by the body (institution) determined by the relevant executive authority.
The form and rules for issuing a certificate in accordance with the requirements of the Kimberley Process Certification Scheme (KPCS) in relation to the export of rough diamonds and the implementation of state control in the areas of import, export, use, circulation, accounting, and storage, including tracking, and the KPCS on the export of rough diamonds will be determined by the body (organization) designated by the relevant executive authority.
In Azerbaijan, import and export of rough diamonds can only be carried out from member states of the KPCS. Import and export of rough diamonds will be carried out based on the opinion of the body (organization) designated by the relevant executive authority.
The "Form and rules for issuing a certificate in accordance with the KPCS requirements on the export of rough diamonds and the implementation of government control in the areas of import, export, use, circulation, accounting, and storage, including tracking, and the implementation of government control in the export of rough diamonds" will be approved after the law adoption.
After discussions, the draft law was put to a vote and passed in the third reading.
The Kimberley Process Certification Scheme (KPCS) is a global initiative established in 2003, designed to safeguard the diamond trade from the infiltration of "conflict diamonds." These are rough diamonds exploited by rebel factions to finance armed conflicts against recognized governments, and the KPCS aims to ensure they do not enter the legitimate market. Member countries must certify that shipments of rough diamonds are free from conflict, guaranteeing their transport in secure, tamper-proof containers.
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