Qatar has entered the global diamond trading industry with the launch of the Qatar Diamond Exchange (QDE) in the Ras Bufontas Free Zone, as the Gulf state seeks to diversify its economy and position Doha alongside established trading hubs serving the international gemstones market.
The exchange will provide an integrated platform for trading rough and polished diamonds and precious stones, offering secure vaulting, certification, customs support, membership services and specialist logistics within a unified regulatory framework, according to the Qatar Free Zones Authority (QFZ).
The launch comes as the global diamond industry undergoes structural change. While trading centres such as Dubai’s Dubai Multi Commodities Centre (DMCC), Antwerp and Mumbai continue to dominate international flows of rough and polished diamonds, the natural diamond market has faced weaker demand over the past two years amid slowing luxury goods consumption, elevated inventories and growing competition from lab-grown stones.
Qatar’s initiative is underpinned by its participation in the Kimberley Process Certification Scheme (KPCS), the international framework governing the trade of conflict-free rough diamonds. The country’s implementation of Law No. 15 of 2025, which designates the Qatar Free Zones Authority as the competent body overseeing rough diamond imports and exports through designated free zones, strengthens the exchange’s regulatory credibility and aligns it with internationally recognised compliance standards.
Industry analysts remain cautiously optimistic. Bain & Company noted in its latest Global Diamond Industry Report that long-term natural diamond demand is expected to recover gradually as supply growth remains constrained, although the sector continues to navigate cyclical headwinds and changing consumer preferences.
QFZ said the exchange is intended to connect producers in Africa and Asia with buyers across the Gulf, Europe and other international markets, supporting Qatar National Vision 2030 through economic diversification and trade expansion.
Whether the Qatar Diamond Exchange develops into a meaningful global trading hub will depend on its ability to attract leading international dealers, generate sufficient trading liquidity and establish regular transaction volumes in a market where established centres already benefit from deep commercial networks, financing infrastructure and long standing industry relationships.
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