Press Release: The Dubai Multi Commodities Centre (DMCC), one of the world’s leading commodity hubs for trade and enterprise and the largest and fastest growing free zone in the United Arab Emirates (UAE), welcomed ALROSA and its subsidiary Arcos East DMCC to Dubai, as the company opened their new office in Almas Tower.
Alexander Efimov, Russia's ambassador to the UAE; Andrey Polyakov, the vice president of ALROSA and Dmitrii Chizhov, the general director of Arcos East were welcomed by Ahmed Bin Sulayem, the executive chairman of the DMCC; Gautam Sashittal, the CEO of the DMCC and Peter Meeus, the chairman of the Dubai Diamond Exchange (DDE) along with other senior DMCC officials.
The ALROSA move further highlights the significant role Dubai is serving as one of the world’s leading diamond hubs for trade and its connectivity to producing countries in Africa, cutting and polishing markets in Asia and consuming markets in Europe, North America and China.
Sulayem said, “The ever increasing number of large corporations and leading market participants, such as ALROSA – Arcos East DMCC, choosing to operate out of Dubai and the DMCC free zone continue to make a significant impact on the rapid growth of the diamond trade in the UAE.
“ALROSA is one of the world’s leaders in diamond-mining, accounting for approximately 97 percent of all Russian production and we wish their subsidiary Arcos East DMCC every success as they expand and access new markets here in Dubai and beyond.”
Polyakov said, “ALROSA’s decision to operate out of Dubai and in the DMCC free zone is another step in a long term expansion plan.
“Dubai connects all major diamond production and consumption centers globally. From a logistics perspective the Emirate has an unrivaled ability to support the growth ambitions of global traders and its international transportation links makes doing business here convenient and efficient. Dubai is no doubt one of the most efficient places for the trade which is one of many reasons why we are opening an office here.”
ALROSA joins over 180 Russian companies currently based in the free zone, including Smolensk-Kristall - the manufacturers of the prestigious Dubai Cut Diamond and Lukoil - one of the world’s largest oil and gas companies. The DMCC free zone is home to over 9,700 member companies in total.
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