Editor’s Note
This article outlines proposed legislative amendments in Azerbaijan to establish a state-controlled mechanism for overseeing the diamond trade.
State control over the import, export, use, circulation, accounting, and storage of unpolished diamonds, including their tracking, will be carried out by an institution determined by the relevant executive authority.
Modern.az reports that this provision is included in the draft amendments to the Law “On Precious Metals and Precious Stones,” which was discussed at today’s plenary session of the Milli Majlis (Azerbaijan’s Parliament).
According to the document, the implementation of state control in the aforementioned areas, as well as the form and issuance rules for the certificate required under the “Kimberley Process Certification Scheme” for the export of unpolished diamonds, will be determined by the institution designated by the relevant executive authority.
The draft amendments were put to a vote and adopted.
