Macau joins the Kimberley Process Certification System

16 October 2018

The Macau Secretary for Economy and Finance, Leong Vai Tac, signed an agreement on Monday in Beijing with the Director of the General Administration of Customs of China, Ni Yuefeng, to support Macau in the Application of the Kimberley Certification Process.

 

The Kimberley Process Certification System (KPCS) is intended to regulate international trade in the import and export of rough diamonds.

 

According to a statement from the Office of the Secretary for Economic Affairs and Finance, the signing of the agreement “facilitates the interconnection between the regulations concerning the Macau diamond trade and on an international level, helping the industry to develop the rough diamond trade.”

 

According to the Secretary, signing the agreement means that applying the KPCS in Macau will speed up the development of the Macau manufacturing industry and promote its diversification.

 

The Director, Ni Yuefeng pointed out that signing the agreement will ensure the effective implementation of the KPCS in Macau.

 

Ni Yuefeng also said that China’s General Customs Administration will explore, along with Macau, new cooperation measures such as the facilitation of customs formalities in order to accompany the construction of the Guangdong-Hong Kong-Macau Greater Bay. (macauhub)

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