My Lords, I am truly grateful for the noble Lord’s participation, without which we might not be having this SI debate. I thank and pay tribute to the noble Lord. It is often said that you call your friends “diamonds”. We may call each other “noble Lord” and not “noble friend”, but I am grateful that I have a diamond of an opposition shadow Minister to deal with—often in a spirit of harmony. On the odd occasion we challenge each other, it is reflective of our mutual respect. I am grateful to the noble Lord for his contributions this afternoon.
As I outlined in my opening remarks, this instrument is crucial to the UK’s participation in the Kimberley process. This point was acknowledged by the noble Lord, and I thank him for his support in this regard. In turn, he raised the important issue of conflict-prevention objectives and obligations. As we have both acknowledged, the convention is not perfect, but this instrument seeks to ensure the continuity of the UK’s participation in a process that has seen results, especially when you see the commitment of the countries now participating in this process. It is right that countries come together to ensure that we protect this important sector and industry and send a clear message to those seeking to exploit the trade in rough diamonds. It is also important to note that this instrument maintains the status quo of the UK’s participation in the scheme.
The instrument is fully consistent with the Prime Minister’s commitment to be a supportive member of the European Union—both as we negotiate our departure and once we have left. It ensures the UK’s continuous compliance with the scheme.
I will pick up on a few of the noble Lord’s specific questions. He talked first about what would happen if the UK were not able to participate in the Kimberley process in the case of a no-deal exit from the European Union. This would of course affect the integrity of the process which we helped to establish. Without this legislation before the Committee, the UK would not have the power to seize illegal rough diamonds and would be perceived as a weak link in the process. Irrespective of how we leave the EU, this SI will ensure the UK’s adherence to the principles of the Kimberley process. It will demonstrate the UK’s continued commitment in this respect.
The noble Lord then built on the issue of conflict prevention. The fact that we are committed to participating, irrespective of the nature of our departure from the EU, underlines the importance of having this SI in place for both scenarios. Across the House, we are focused on the importance of ensuring that we prevent conflict—as I know the noble Lord is.
The noble Lord also asked about the costs associated.