A New Chapter for Dubai as DMCC Moves to Join Natural Diamond Council

DMCC has confirmed that it had signed a declaration of intent to formally become a member of the NDC. By doing so, the free zone authority is aligning itself with the organization responsible for global marketing initiatives that promote natural diamonds. The announcement was made within the broader framework of the Luanda Accord, an agreement among producing nations and key industry players aimed at strengthening the resilience and competitiveness of the natural diamond sector.

DMCC is far from a peripheral participant in the industry. As a government-backed commodities free zone, it has spent years building Dubai into one of the world’s leading diamond trading hubs. Today, the city ranks among the largest centers for both rough and polished diamond trade, with billions of dollars in transactions flowing annually through its exchanges and tender platforms. At the center of this activity is the Dubai Diamond Exchange, located in the iconic Almas Tower, which serves as a meeting point for buyers and sellers from around the globe.

By seeking membership in the NDC, DMCC is signaling that Dubai’s ambitions go beyond providing trading infrastructure and logistical support. Formerly known as the Diamond Producers Association, the Natural Diamond Council focuses on consumer-oriented campaigns that promote the authenticity, value, and emotional significance of natural diamonds. The NDC’s mission is to safeguard and strengthen the natural diamond category at a time when lab-grown stones and shifting consumer attitudes are reshaping the market.

Amber Pepper, CEO of the Natural Diamond Council, noted: “Collective action is essential to protect the integrity and desirability of natural diamonds. I welcome the opportunity to work with DMCC to ensure that the industry’s efforts to support the natural diamond sector are aligned and amplified around the world.”

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC stated: “The decision to join the Natural Diamond Council reflects both the scale of Dubai’s role in the global diamond trade today and our responsibility to support the long term integrity and demand of the natural diamond category. As the world’s leading diamond trade hub and home to more than 1,300 diamond companies, this step underscores our commitment to supporting our community by strengthening consumer demand and safeguarding the future of the sector.”

“At a time of structural change across the industry, collective action must be firmly grounded in transparency, responsible sourcing and sustained consumer confidence. Looking ahead, DMCC will continue to broaden its collaboration with industry and producer governments, and will contribute its convening power and market insight to initiatives that strengthen the resilience and long term growth of the global diamond sector,” he added.

The timing of the announcement is notable. The natural diamond market has faced several challenges in recent years, including macroeconomic uncertainty and the rapid rise of lab-grown diamonds, which are often sold at significantly lower prices. Meanwhile, younger consumers are placing greater importance on sustainability, transparency, and compelling brand narratives when making purchasing decisions.

Against this backdrop, coordinated marketing and unified messaging have become increasingly important. The Luanda Accord was established by leading African diamond-producing nations alongside industry stakeholders to support the long-term sustainability of the natural diamond sector. By aligning itself with these initiatives, DMCC is reinforcing its commitment not just to facilitating trade, but also to supporting how the category is positioned in global markets.

Dubai’s decision carries both symbolic and practical weight. Symbolically, it deepens the emirate’s ties with producer countries, particularly in Africa, which remains central to the global supply of rough diamonds. Practically, it could strengthen the institutional relationships that support and sustain the steady flow of diamonds through Dubai’s trading platforms and tender facilities.

Observers have often pointed out that Dubai’s emergence as a major diamond hub is part of a broader strategy to diversify its economy and secure a central role in global commodities markets. Its geographic position, bridging African producers and Asian consumer markets, has been a significant advantage. In addition, DMCC’s infrastructure, regulatory framework, and tax environment have made the emirate especially attractive to international traders.

While joining the NDC will not immediately change trade volumes or pricing structures, it places DMCC within a collective effort to stimulate global demand for natural diamonds. As consumer education campaigns and marketing initiatives expand, trading hubs aligned with these efforts may benefit from stronger category momentum over time.

The development also reflects a wider shift in how commodity markets are governed. Trading centers, producers, and marketing organizations are becoming more interconnected, with the boundaries between trade facilitation, brand strategy, and policy coordination increasingly blurred, especially in industries undergoing structural transformation.

Viewed through a market lens, the development underscores Dubai’s determination to remain a vital link in the global diamond supply chain. Although the announcement did not include specific financial details, its strategic nature points to a long-term commitment to sustaining relevance amid shifting competitive dynamics.