Market NewsNewsEU takes over as Kimberley Process Chair

EU takes over as Kimberley Process Chair

The European Union has taken over the chairmanship of the Kimberley Process for 2018, a decade after it last directed the initiative. Federica Mogherini, who is an Italian politician and the High Representative of the bloc for Foreign Affairs and Security Policy, will be heading the operation, reported.

Kimberley is a process started in 2003 following the United Nations General Assembly’s Resolution 55/56. It is aimed at removing conflict diamonds from the global supply chain, which means that participants have to go through a certification scheme that ensures that their diamond purchases are not financing violence by rebel movements aiming at undermining legitimate governmentsm, said the report.

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