China, India to Surpass US as Leading Consumers of Botswana Diamonds
Post Date: 08 Oct 2010 Viewed: 621
The United States is projected to soon lag behind China and India as a consumer of gem-quality Botswana diamonds, the Sunday Standard reported, quoting diamond supplier De Beers – which anticipates "shifting patterns" in demand for diamonds as emerging middle classes in the Asian nations clamor for diamonds and diamond jewelry.
According to De Beers' projections, the next five years will see an increase of approximately 16% in diamond consumption in China and 13-15% in India.
The Kimberley Process Annual Global Summary for 2009 reported that Botswana produced 17.7 million carats of rough diamonds valued at $1.43 billion.
Meanwhile, the Obama Administration is looking forward to expanding ties with Botswana in other areas. In a speech celebrating 44 years of Botswana's independence from British rule, Secretary of State Hillary Clinton praised the two nations' "vibrant partnership rooted in common values" and commended Botswana as a "model of stability" in southern Africa.