DMCC Signals Dubai Power Play in Global Diamond Trade

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Dubai Jewelry News: Dubai Tightens Its Grip on the Global Diamond Narrative

Dubai has taken another decisive step toward shaping the future of the global diamond industry after DMCC announced its intention to join the Natural Diamond Council (NDC) in 2026. The move aligns the world’s largest diamond trading hub with the leading international body responsible for category-level marketing of natural diamonds, reinforcing Dubai’s ambition to move beyond being a trading center and into a position of long-term strategic influence over the global diamond narrative.

The announcement was made in Cape Town during the second high-level meeting of the Luanda Accord, held on the sidelines of the Mining Indaba. The timing is significant, coming at a moment when the natural diamond industry is under structural pressure from evolving consumer attitudes, the rapid rise of lab-grown alternatives, and increased scrutiny over ethical sourcing and transparency. Against this backdrop, Dubai’s decision signals an intent to play a stabilizing and leadership role in reinforcing confidence in natural diamonds worldwide.

The Luanda Accord Gains Momentum

The Luanda Accord, signed in Angola in June last year, is a framework agreement that commits producer governments and key industry players to renewed and coordinated investment in promoting natural diamonds. Led by the Natural Diamond Council, the Accord seeks to ensure that the industry speaks with a unified voice when communicating the rarity, authenticity, and social value of natural diamonds to consumers.

This Dubai Jewellery News report notes that the Cape Town meeting underscored growing alignment between governments and industry. The discussions were overseen by senior ministers from four major African producing nations: Angola, Botswana, Namibia, and Sierra Leone. Their presence highlighted how deeply producer countries view global marketing as a strategic necessity, not merely a commercial exercise. For these nations, sustained demand for natural diamonds directly impacts national revenues, employment, and community development.

Why DMCC’s Decision Carries Global Weight

DMCC’s intention to join the NDC carries weight because of Dubai’s sheer scale and centrality in the global diamond trade. Home to more than 1,300 diamond and precious stones companies, DMCC hosts the Dubai Diamond Exchange and facilitates trade flows linking African producers with manufacturers in India and consumer markets across Europe, the Middle East, and Asia.

By aligning itself with the NDC, DMCC is effectively lending Dubai’s institutional credibility and market reach to a coordinated global marketing effort. Industry observers see this as a recognition that defending the natural diamond category requires more than isolated campaigns. It requires hubs like Dubai to actively participate in shaping consumer perceptions, policy dialogue, and long-term strategy.

Consumer Confidence Under the Spotlight

The Natural Diamond Council was established to inspire and educate consumers about the enduring value of natural diamonds. Through global campaigns and educational initiatives, it seeks to address growing consumer questions around origin, authenticity, and impact. These efforts have become increasingly important as younger buyers demand transparency and meaning alongside luxury.

DMCC has indicated that its planned membership will support these objectives, aligning with the principles of the Luanda Accord. For Dubai, this represents a strategic extension of its long-standing commitment to governance and compliance in the diamond trade. The emirate has consistently positioned itself as a proponent of responsible sourcing and transparent trade, reinforcing trust among both industry participants and end consumers.

Expanding the Coalition

The Cape Town meeting also marked tangible progress in expanding the coalition behind the Luanda Accord. Namibia formally acceded to the agreement, strengthening producer country representation. At the same time, India’s Gem and Jewellery Export Promotion Council signed a memorandum of understanding outlining a pathway to join the Natural Diamond Council by May 2026.

These developments, combined with DMCC’s declaration of intent, point to a broadening alliance that spans the diamond value chain. From mining governments and trading hubs to manufacturing centers and exporters, the industry appears to be coalescing around the idea that sustained, collective investment in category marketing is essential for long-term resilience.

Dubai’s Track Record in Diamond Governance

Dubai’s growing influence in the diamond sector is built on more than two decades of active engagement in global trade governance. Through DMCC and the Dubai Diamond Exchange, the emirate has played a key role in shaping international trade flows and advancing discussions on traceability, compliance, and best practices.

Notably, DMCC has chaired the Kimberley Process three times, positioning Dubai as a trusted convener capable of bridging diverse stakeholder interests. This experience enhances the significance of its planned NDC membership, as it brings not only financial support but also policy expertise and convening power to the council’s work.

Industry Leaders Respond

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, said the decision reflects both Dubai’s scale in the global diamond trade and its responsibility to support long-term demand for natural diamonds. He emphasized that collective action, grounded in transparency and responsible sourcing, is essential as the industry navigates structural change.

Amber Pepper, Chief Executive Officer of the Natural Diamond Council, welcomed DMCC’s intention to join, stressing that protecting the integrity and desirability of natural diamonds requires aligned and amplified efforts across markets. Her remarks echo a growing industry consensus that fragmented approaches are no longer sufficient in an increasingly competitive luxury environment.

Strategic Implications for the Diamond Market

DMCC’s move is widely seen as a signal that major trading hubs are prepared to take a more proactive role in defending the natural diamond category. As competition intensifies and consumer narratives evolve, the ability of the industry to present a clear, credible, and emotionally resonant story will be critical to sustaining demand.

Dubai’s deeper involvement through the Natural Diamond Council could help bridge gaps between producer nations, manufacturing centers, and retail markets. By aligning marketing, policy dialogue, and trade infrastructure, stakeholders aim to create a more resilient ecosystem that preserves the unique value of natural diamonds while adapting to modern consumer expectations.

The growing momentum behind the Luanda Accord and the expanding membership of the Natural Diamond Council suggest that the industry is entering a new phase of coordinated global action. With DMCC stepping forward, Dubai is positioning itself as a central architect in reshaping how natural diamonds are marketed, understood, and valued worldwide. This strategic shift may prove decisive as the sector seeks stability, relevance, and sustainable growth in the years ahead.

For more details, visit DMCC website at: https://dmcc.ae/

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