The BRICS countries have officially launched a dialogue platform focused on cooperation within the diamond industry, according to a statement by the Russian Finance Ministry. The inaugural meeting took place on October 9, 2024, in Moscow, in a hybrid format, alongside the BRICS finance ministers and central bank governors’ meeting.
This initiative was part of Russia’s BRICS Presidency and supported by the Association of Diamond Producing Countries of Africa. The platform aims to strengthen trade and business ties among diamond-producing nations, fostering collaboration across the entire “diamond pipeline,” from mining to retail.
Russian Deputy Finance Minister Alexey Moiseyev highlighted the platform’s potential to enhance cooperation, develop common standards for responsible diamond mining, and create added value in supply chains. The meeting identified four key areas of focus: value creation, promoting polished diamonds in BRICS markets, ensuring common standards for responsible mining, and sharing best practices across the industry.
