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Sat 7 Sep 2019 10:06 AM

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How diamonds dominate Botswana's exports to the UAE

Dubai Chamber says diamonds accounted for more than 90% of Botswana's exports to the UAE as trade exceeds AED5bn

How diamonds dominate Botswana's exports to the UAE

Diamonds accounted for more than 90 percent of Botswana's exports to the UAE as trade exceeded AED5 billion last year, according to the Dubai Chamber of Commerce and Industry.

The UAE's trade with the African country in 2018 was AED5.14 billion, up from just AED1.84 billion in 2015, the Chamber revealed during its participation at the Botswana World Trade Fair 2019, organised by the Botswana Commercial Investment Centre.

Omar Khan, director of external offices at the Dubai Chamber, said diamonds account for more than 90 percent of Botswana's exports to the UAE, making the country an ideal destination for re-exporting Botswana diamonds to the world.

Khan also highlighted additional investment opportunities in meat and livestock, as these products in Botswana are "characterised by high quality", with strong demand in regional markets.

In 2017, the 1,109-carat Lesedi La Rona diamond, the biggest rough diamond discovered in more than a century, was sold for $53 million, or $47,777 a carat, to Graff Diamonds.

The Lesedi La Rona, or “our light” in the Tswana language spoken in Botswana, was unearthed at the Karowe mine in Botswana.