Doha, July 26 (QNA) - Financial experts said that the launch of the Qatar Diamond Exchange (QDE) will contribute to diversifying the economy and sources of income, boosting investment flows into Qatar, and strengthening the country's position on the global diamond and precious stones trading map.

They noted that the Qatar Diamond Exchange will attract international companies and traders to Qatar, create investment opportunities for local companies and investors, and bring global expertise in diamond and gemstone trading to the country.

The Qatar Free Zones Authority (QFZ) announced on Sunday the launch of the Qatar Diamond Exchange (QDE), a fully integrated platform for trading rough and polished diamonds and precious stones, hosted within Ras Bufontas Free Zone.

QFZ said the new exchange brings together trading, membership, vaulting, certification, and industry services within a single regulated ecosystem, establishing a new gateway for global diamond trade in Qatar and supporting economic diversification in line with Qatar National Vision 2030.

The exchange operates as a unified regulatory platform featuring a secure trading floor, private negotiation suites, an institutional-grade vault with biometric access control, 24/7 security and surveillance, customs facilities, and on-site certification services. These facilities provide members with a comprehensive and secure environment to conduct their business.

The Qatar Diamond Exchange is expected to connect diamond producers across Africa and Asia with buyers in Europe and the Gulf region through a coordinated calendar of events, including tenders for rough and polished diamonds.

In this context, financial expert Ahmed Aqel told Qatar News Agency (QNA) that the launch of the Qatar Diamond Exchange represents an important strategic step that will significantly contribute to economic diversification, expand sources of income, and transform Doha into a major regional and global hub for diamond and gemstone trading.

Aqel said that the Qatar Diamond Exchange represents the establishment of a new strategic sector that supports economic diversification and strengthens Qatar's position in global diamond and precious stones markets.

He added that the exchange provides an important mechanism for diversifying income sources, reducing reliance on oil and gas, and supporting the objectives of Qatar National Vision 2030, which aims to diversify the economy by promoting commercial, logistics, and investment sectors.

He pointed out that the establishment of a regulated ecosystem for diamond trading, including trading, storage, vaulting, auctions, tenders, and industry support services, will strengthen Qatar's role in the global diamond value chain.

Aqel also highlighted that granting free zones a role in managing the market strengthens the regulatory framework governing diamond and precious stones trading, including the movement of these products into and out of the country. This, he said, provides an important mechanism for ensuring the legitimacy and transparency of gemstone and diamond transactions.

He emphasized that one of the key advantages of the Qatar Diamond Exchange is its ability to attract new investments to the sector, particularly as the Arabian Gulf has a long history of gemstone and diamond trading. He added that the exchange will create new opportunities in financial services, operational activities, insurance, and other related sectors, especially for large-scale transactions.

He further noted that the exchange will provide local companies with opportunities to enter a new investment field and establish partnerships with international companies, contributing to the transfer of global expertise to the local market. A regulated and reliable local market for diamond and precious stones trading, he said, will open promising opportunities for investors.

Aqel also explained that the exchange could contribute to boosting events and conferences specializing in diamond and gemstone trading.

He concluded that the Qatar Diamond Exchange will have a positive impact on the national economy by supporting investment flows, capital movement, and efforts to diversify income sources.

For his part, financial analyst Youssef Abu Haliqa described the launch of the Qatar Diamond Exchange by QFZ in Ras Bufontas Free Zone as a pivotal strategic step toward enhancing economic diversification, strengthening Qatar's position as a regional and global hub for gemstone trading, and attracting high-quality investments.

He explained that the project represents a strategic opportunity to achieve the objectives of Qatar National Vision 2030 by diversifying the economy and reducing reliance on the oil and gas sector through supporting the jewelry and diamond trade as a promising sector.

Abu Haliqa added that the exchange will contribute to strengthening the role of the Qatari private sector in the national economy by creating new opportunities in diamond trading and related industries.

He concluded his remarks to QNA by saying that regulating this sector through modern legislation will enable Qatar to adapt to global developments and enhance market efficiency to internationally competitive levels.

Qatar became a member of the Kimberley Process Certification Scheme (KPCS) for issuing rough diamond trading certificates in 2021.

The international accreditation system began operating in regulates rough diamond trading through government-issued certificates of origin and includes dozens of countries and entities to ensure transparency and legitimacy in global trade.(QNA)