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Press Release: The Dubai Multi-Commodities Centre (DMCC), the government authority with a mandate to enhance Dubai’s position as the global gateway for commodity trading and enterprise, is pleased to host the inaugural Middle East Gems and Jewellery Forum (MEGJF) on November 9. His Highness Sheikh Ahmed Bin Saeed Al Maktoum, the president of the department of civil aviation, the CEO and chairman of The Emirates Group and chairman of Dubai World, will be the guest of honor at the event, which will also welcome key industry players, traders and suppliers from across the globe. Gold, diamond and precious stones account for much of the non-oil and energy commodity-based trade in the region and DMCC has extensively contributed to Dubai’s position as one of the world’s top three trading hubs for gold, diamonds and gemstones. Ahmed Bin Sulayem, the executive chairman of the DMCC, said, “With Dubai being one of the world’s top three trading hubs for gold, diamonds and gemstones, and the UAE the No. 1 jewelry-consuming nation in the Middle East, the first DMCC Middle East Gems and Jewellery Forum is perfectly positioned to provide a regional platform for dialog and collaboration on the colored stones and jewelry industry. “‘DMCC’s new initiative enables industry leaders and experts to share experiences and discuss ways to further capitalize on Dubai’s ideal location between the producing and consuming nations as well as the tremendous growth potential in the region and beyond,” he said. As a hub for luxury goods, Dubai commands around 30 percent of the luxury marketing in the Middle East and around 60 percent of the UAE’s luxury market. Gold jewelry consumption is estimated at $2.5 billion, making the UAE one of the top five in the world amongst China, India, the United States and Russia. The forum is set to welcome over 250 delegates and partners, including title sponsor Gemfields -- the world's leading producer of ethically-sourced, rare colored gemstones. Ian Harebottle, the CEO of Gemfields, said, “As one of the world’s preeminent gemstone mining and marketing companies, Gemfields is committed to the constant growth and development of the global gem and jewelry sector. The Middle East and North Africa (MENA) region are cornerstones to this market and it is pleasing to see how Dubai is increasingly beginning to play such an important role in the renewal and reinvigoration of a sector that is core to Gemfields very existence. It thus gives me great pride to be able to attend and sponsor this event as I have always believed in the power of partnership, especially so when two or more parties come together with such a clear degree of passion, commitment and focus. I am 100 percent confident that such events give the markets a positive momentum and help the industry scale new highs.” Key sponsors include the Gemological Institute of America, which is considered the world’s foremost authority in gemology, and Vicenzaoro Dubai, the definitive global jewelry show, both of which join supporting sponsors Dhamani and Robert Wan; and supporting partners Luxury Marketing Council, Dubai Gold & Jewellery Group and World Diamond Mark. Media partners include: The New Jeweller, Al Bayan, City 7 TV, Zahrat Al Khaleej, Diamond World and Jewellery New Asia. For further information please visit http://www.dmcc.ae/megjf. About DMCC DMCC is a strategic initiative of the government of Dubai and was established in 2002 with a mandate to provide the physical, market and financial infrastructure required to set up a commodities market place in Dubai. DMCC attracts key players throughout the entire value chain of a wide range of commodities sectors, together with relevant support industries such as finance, logistics and insurance. DMCC has established a robust infrastructure, including free zone status, trade networking platforms, secure vaults and purpose-built storage facilities. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including 50-year guaranteed zero percent corporate and personal income tax, 100 percent business ownership, full ownership of business premises and a secure regulated environment. DMCC has also implemented a dedicated compliance policy in the organization, which is in line with the compliance related laws and regulations of the UAE federal government and the competent international bodies. DMCC owns three fully operational towers that host the majority of the physical, market and financial infrastructure including the Jewellery & Gemplex facility, the specialized diamond and pearl exchanges and gold vault. www.dmcc.ae
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