Macao authorities approve new rules on diamond trading

The Macao Executive Council says it has approved new rules imposing the Kimberley Process Certification Scheme on the diamond trade in the city, beginning in October.

The council issued a written announcement saying any Macao company seeking to deal in rough diamonds must obtain a two-year licence from Macau Economic Services, an arm of the government.

Any rough diamonds imported or exported must be covered by a 60-day Kimberley certificate, the council says.

In March the Portuguese news agency, Lusa, quoted the spokesman for the council, Leong Heng Teng, as saying Macao businesses would be prohibited from importing rough diamonds without Kimberley certificates.

Last year the Macao Trade and Investment Promotion Institute and the Shanghai Diamond Exchange agreed to make Macao a place where China and the Portuguese Language Countries can trade diamonds.