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WTO extends Kimberley Process waiver for six years

December 06, 2006

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Geneva—The World Trade Organization's (WTO) Council for Trade in Goods agreed in principle to renew its waiver that allows countries to block trade in conflict diamonds until 2012.

According to published reports, the decision was made at a meeting on Nov. 20 and must be formally adopted by the General Council, the WTO's top permanent decision-making body. The original waiver was approved in early 2003 and expires at the end of this year.

To comply with KP requirements—meant to track rough diamonds and keep illicit stones out of the legitimate diamond trade—WTO members need recourse for measures that under normal circumstances violate WTO obligations. Specifically, they must be able to discriminate between diamonds based on country of origin and have the ability to ban diamond exports and imports.

The waiver decision covers Australia, Botswana, Brazil, Canada, Croatia, India, Israel, Japan, Korea, Malaysia, Mauritius, Mexico, Norway, the Philippines, Sierra Leone, Taiwan, Thailand, United Arab Emirates, the United States and Venezuela.
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Diamonds

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