The State Department has added Gabon to the list of countries eligible for trade in rough diamonds under the Clean Diamond Trade Act of 2003. There are currently 57 countries and political entities on this list.
The CDTA requires the president to prohibit the importation into, or the exportation from, the U.S. of any rough diamond from whatever source that has not been controlled through the Kimberley Process Certification Scheme, which seeks to prevent trade in diamonds from funding civil wars and terrorist activities. “Controlled under the KPCS” means an importation from, or exportation to, the territory of a participant of rough diamonds that is either carried out in accordance with the KPCS or controlled under a system determined by the president to meet substantially the standards, practices, and procedures of the KPCS.
Copyright © 2021 Sandler, Travis & Rosenberg, P.A.; WorldTrade Interactive, Inc. All rights reserved.