REGULATION OF THE DIAMOND INDUSTRY

That this House notes with concern that, almost two years after the diamond industry agreed to a system of self-regulation to prevent the trade in diamonds from regions of conflict, many retailers in the UK are still failing to provide consumers wih assurances that the diamonds they sell are not mined in conflict zones where profits have been used to arm militias that have killed, raped and mutilated millions of people; recognises that it is now time to move beyond the voluntary approach; and calls on the Government to inspect companies to ensure that the industry is implementing the regulations it has committed itself to and to report back to Parliament and the relevant international monitoring committee in 2005.