Monday, October 08, 2007

Dubai, Hong Kong and China join hands for trade


Mr. Johnson Sin, President, Hong Kong Gemstone Manufacturers’ Association and Ms Gaiti Rabbani, Executive Director - Coloured Stones & Pearls, DMCC signing the MoU
Dubai Multi Commodities Centre (DMCC) announced that it has signed a Memorandum of Understanding (MoU) with the Hong Kong Gemstone Manufacturers’ Association (HKGMA) to build industry-specific trade relations between Hong Kong, China and Dubai in the coloured stones and pearls sector.
Under the terms of this agreement, DMCC and HKGMA will design initiatives aimed at promoting the coloured stones and pearl trade through trade forums, exhibitions, seminars and jewellery events, including the Hong Kong Jewellery Fair.
This agreement will be overseen by DMCC’s Coloured Stones & Pearls Division that was created for the strategic development and promotion of Dubai as a hub for the global coloured stones and pearls trade, fostering relations with the international trade and developing industry services. Already established as a centre for gold and diamond jewellery, coloured stones and pearls represent the largest growth potential for the Dubai and Middle East market. Current DMCC projects under this division include the Dubai Gems Club, the Dubai Pearl Exchange and Pearls of Dubai, a joint-venture project.
Ms. Gaiti Rabbani, Executive Director – Coloured Stones & Pearls Division, DMCC, said: “Middle East, China, Hong Kong and Thailand are emerging economies with a strong trade in coloured stones and pearls. Together, the DMCC and HKGMA cover these important centres of gemstone production and consumption. Through this agreement with HKGMA, DMCC reinforces its commitment to the development of the trade. We are confident that this partnership will contribute significantly to the global jewellery, coloured stones and pearls industries.”
The MoU will also facilitate in sharing of local market knowledge and expertise, providing assistance in marketing joint initiatives, and continuously maintaining a dialogue of ideas towards the development of the gemstone trade.

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