41.   Australian company Argyle Diamonds has accused the South African diamond giant De Beers of flooding the Indian rough diamond market, the West Australian said Wednesday.

42.   The South African-based De Beers said demand for rough diamonds was strong but any significant improvement was dependant on increased demand from Japan and Europe.

43.   The process works by establishing minimum standards for the national certification of imports and exports of rough diamonds.

44.   There was no agreement on the creation of a public international data base on the production and trade in rough diamonds, and monitoring provisions were too weak.

45.   While the fundamentals of the diamond business remained positive, the rough diamond market was awaiting the outcome of negotiations with Russia on the renewal of a sales agreement.