Dubai. The total trade in rough diamonds in Dubai reached $3.93 billion in 2006, up from $3.73 billion in 2005, the Dubai Diamond Exchange, a subsidiary of the Dubai Multi Commodities Center (DMCC), said. Rough diamond imports to the emirate reached $1.56 billion in 2006, while exports were at $2.37 billion for the same period. A total of 84.6 million carats were traded in 2006, compared with 71.2 million in 2005. Carat imports increased by 15 percent in 2006, while exports registered a significant increase of 23 percent in the same period. Youri Steverlynck, the newly appointed chief executive officer of the Dubai Diamond Exchange, said, “DMCC is taking steps to boost the rough diamond trade in the emirate. Our recently announced master plan for the diamond sector commits to developing special programs for mining companies, which will facilitate diamond producers to market their goods through Dubai.” The exchange is the only one in the region able to service the trade from mining to retail, and one of only a handful in the world able to conduct business-to-business diamond tenders, enabling sellers to reach a wider market.

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