Dubai’s exports of gold and jewelry grow 22.4% during the first...

Dubai’s exports of gold and jewelry grow 22.4% during the first...
Dubai’s exports of gold and jewelry grow 22.4% during the first...

Corporation for the Development of Industry and Exports, one of Dubai’s economic institutions, organized a participation in the “JCK” exhibition in the state of Las Vegas, which is considered one of the most important exhibitions in the gold and jewelry sector.

The Dubai Multi Commodities Center, Ithra Dubai, and the Dubai Gold and Jewelery Group participated with the Foundation, as this is the first participation in organizing an integrated pavilion, bringing together all parties that support this vital sector in the emirate and the country in general, in addition to contributing to achieving the goals of A strategy that enhances the position of the emirate and the country as a global center for gold and jewelry trade, and promotes the sector.

Noticeable growth

A statement issued yesterday confirmed that the gold and jewelry sector is one of the most important sectors in the non-oil foreign trade of the Emirate of Dubai, as the gold and jewelry trade increased from 92.88 billion dirhams in the first quarter of 2020 to 111.5 billion dirhams in the first quarter of 2021, by 20%. And a growth rate of 22.4% in exports from Dubai during the first quarter of 2021 compared to the same period in the first quarter of 2020, according to data from the Dubai Customs Department. The gold sector also witnessed a remarkable growth during the first half of 2021, with a growth of 102%, compared to the first half of 2020. The number of licenses issued in the gold sector reached 204, according to the latest Dubai economic statistics.

The sector included the trade, casting and manufacturing of gold, jewellery, precious metals, and jewellery. This reflects the quality and efficiency of the country’s trade policies, the high confidence and positive reputation it enjoys in global markets, and its pivotal role in facilitating global trade.

attract trade

“Dubai Multi Commodities is home to the region’s leading diamond and jewelry companies, and we were pleased to see many of our members at the conference in the United States, which will contribute In realizing our strategy of transforming Dubai into a world-leading trading center for minerals, precious stones and jewellery.

He added, “The DMCC headquarters is located in the heart of Dubai’s dynamic environment, and we have ambitious plans to attract more trade and jewelers to the city.”

For his part, Issam Galadari, CEO of Ithra Dubai, said that attending the World Expo is important for us, as it allows attracting new investments, new traders and investors to Dubai.

He added, “We have developed some of the best facilities in the world, and now we would like to employ international companies in this sector, so that Dubai remains the city of gold.”

sector sustainability

In addition, Mohammed Ali Al Kamali, Deputy Executive Director of the Dubai Corporation for Industry and Exports Development and Head of the Executive Office of the UAE Bullion Market Committee, said, “We seek to develop an integrated system that supports the sustainability of this strategic sector, through numerous initiatives, and we focus on initiatives that fully support the value chains of industries. direct and indirect sector.

In the same context, the Chairman of the Board of Directors of the Dubai Gold and Jewelery Group, Tawhid Abdullah, said that Dubai is a center for the trade of rough diamonds, due to its strategic location near Africa, where diamonds are extracted, and from India, where 90% of the diamonds in the world are polished. ».

He stressed that the UAE is the third largest trading center for rough diamonds after Belgium and India, while Israel and China are close to the top five.

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