A Draft Convention on Illicit Trade in Precious Metals and Precious Gems

Discussion Paper | February 23, 2009

EWI Senior Fellow Jonas Hartelius puts forward a draft convention to create a legal framework for transparent and responsible trade in precious metals and gems.

Unregulated or illegal production and trade in precious metals, such as platinum, and precious gems, such as diamonds, have become a source of funding for conflicts. Efforts to curb and control the illegal handling of such metals and gems have had only limited success to date. An over-arching legal framework has been lacking.

Considering the need for an international framework, the EastWest Institute and the Swedish Carnegie Institute have commissioned Jonas Hartelius, Senior Fellow at EWI and Scientific Adviser to the SCI, to draft a proposed convention for the United Nations. Such a convention would provide a legal framework for efforts by all parties involved to create a transparent and responsible trade in such metals and gems. The publishers hope this draft for a convention will initiate further discussions.