Dubai to Host Diamond and Jewelry Summit

Tag : china jewelry
Dubai to Host Diamond and Jewelry Summit -- JCK-Jewelers Circular Keystone, 7/24/2008 10:17:00 AM
The Dubai Multi Commodities Centre will host the first DubaiDiamond and Jewellery Summit, with the objective of providing theinternational jewelry trade with a forum to initiate relationshipsin the Middle. The two-day event will focus on Middle East-Chinadiamond and jewelry trade. It will be held Nov. 8 and 9 at theAtlantis Hotel, Palm Jumeirah.

The summit builds on a visit to China by HH Sheikh Mohammed binRashid Al Maktoum, vice President and prime minister of the UnitedArab Emirates and ruler of Dubai.
The event is an attempt to reinforce ongoing efforts to strengthentrade relations between both countries, DMCC said in a statement.It also follows two strategic agreements signed earlier this yearby DMCC with the government of Panyu, China, and with the Gems& Jewellery Trade Association of China, for increasedcooperation towards mutual growth and promotion of diamond andjewellery trade.
Diamond trade in the UAE alone witnessed record growth in 2007,eclipsing $10 billion. Dubai’s rough diamond trade alonewitnessed a 32 percent growth in the first quarter of 2008, with atotal of $ 1.5 billion while polished diamond trade reached $2.7billion. The Chinese jewelry industry has also achieved recordsales in 2007, with a growth of 11 percent more than $26 billion.
“Emerging economies such as the UAE, Saudi Arabia, Turkey,and Egypt are all set to become the center of the fast-growingjewelry business in the next three years, with Dubai being thenatural gateway for the wider region," said Ahmed Bin Sulayem,DMCC executive chairman. "In fact, the UAE and Hong Kong areamong the prominent markets experiencing exponential growth. Thissummit will focus on the growing business potential between Chinaand the Middle East, two major global trading blocs.”