Panama moves towards Kimberley

Enviromine

Ricardo Martinelli, president of Panama. Photo: Bloomberg

Publishing Date: 05 Nov 2009 10:49am GMT
Author: Mining Environmental Management

Sustainability

Panama’s president, Ricardo Martinelli, has pledged to fast-track legislation to create a diamond free-trade zone, and facilitate the country’s membership of the Kimberley Process.

Mr Martinelli said he would initiate a special session of the National Assembly to complete legislation to create a free-trade zone for the diamond market.

His comments followed an international meeting including representatives of the diamond industry, the World Diamond Council and the Panama Diamond Exchange, and which the president also pledged to become full members of the Kimberley Process.

The legislation will provide permanent free-trade zone status to the Panama Diamond Exchange and enable the import and export of diamonds into and out of the zone free of customs and tariffs.

“President Martinelli’s pledge to drive through the steps necessary to complete Panama’s Kimberley Process membership was most encouraging,” World Diamond Council chairman Eli Izhakoff said.