Botswana and France Join Forces to Strengthen the Global Position of Natural Diamonds
The growing presence of laboratory-grown stones in the jewellery market is bringing renewed attention to the commercial identity and value of natural diamonds. Against this backdrop, Botswana and France have agreed to deepen cooperation on the international recognition of mined diamonds and their contribution to producing economies.
The two governments signed the Paris Declaration on Natural Diamonds: Drivers of Responsible, Sustainable and Inclusive Growth on 10 November 2026 in Paris. Botswana’s Minister of Minerals and Energy, Bogolo Joy Kenewendo, and France’s Minister Delegate for Foreign Trade and Economic Attractiveness, Nicolas Forissier, signed on behalf of their respective governments.
The competitive shift is reflected in the US market. Laboratory-grown stones accounted for 53% of engagement rings sold by unit volume in 2025, but generated 27% of the category’s sales value, according to figures reported by JCK. Across diamond jewellery, their share reached 20.5% of units sold, compared with 15.4% of revenue. This divergence highlights the different market positions occupied by the two product categories.
The declaration addresses this distinction by supporting the exclusive use of the word ‘diamond’ for natural stones, alongside measures to strengthen consumer recognition and confidence.
For Botswana, the issue has implications extending well beyond the jewellery trade. Diamonds have been a major contributor to the country’s economic development since independence, shaping its export earnings and financing national development. The agreement comes as Botswana marks 60 years of independence, adding significance to the country’s efforts to reinforce the international position of an industry closely associated with its economic history.
The declaration also recognises the wider commercial and social contribution of natural diamonds, including their role in generating investment, supporting trade and creating benefits across producing countries. Its signing provides a framework for Botswana and France to advance cooperation on these issues.
Botswana’s Ministry of Minerals and Energy announced the agreement on 11 November 2026.
