Dubai, Feb. 17, 2009 (WAM) -- Leading experts from the pearl and jewellery industry today gathered at the Atlantis Hotel, Palm Jumeirah for the inaugural World Pearl Forum, hosted by the Dubai Pearl Exchange, a subsidiary of the Dubai Multi Commodities Centre (DMCC).
The event is being held under the patronage of HRH Princess Haya Bint Al Hussein, wife of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. In a private meeting with Sultan Ahmed Bin Sulayem, Chairman - Dubai World; Farid Mohammed Ahmed, Secretary General - Dubai World; Ahmed Bin Sulayem, Executive Chairman - Dubai Multi Commodities Centre; Gaiti Rabanni, Executive Director, Coloured Stones and Pearls - Dubai Multi Commodities Centre; and Nicholas Paspaley, Chairman of the Board of Directors - Paspaley Pearls Group, Princess Haya praised the role of the pearl divers that once was the foundation of Dubais economy, adding that this Forum is in honor of the great tradition of pearl diving and will help Dubai regain its legacy as the leader in the pearling industry. Delivering the keynote address at the event, Sultan Ahmed bin Sulayem, Chairman, Dubai World underlined the Emirates historical connection with pearls and expressed hope that synchronized industry effort would facilitate the revival of Dubais pearl trade. "At present there is a need to create new avenues of development in trade. And the pearl industry, being a legacy industry in the Gulf, offers such an opportunity. Todays reality calls for industry cooperation more than ever before to build on our strengths and address the weaknesses and to create visibility and opportunity for this commodity. The World Pearl Forum presents an excellent platform for the pearl industry to synergise initiatives for the growth of the global trade," Bin Sulayem noted. Earlier, the regional and international delegates were welcomed to the World Pearl Forum by Ahmed Bin Sualyem, Executive Chairman, DMCC. He said: "It is encouraging to see so many pearl experts from across the globe, together in one room, with one objective; to promote the growth of the global pearl industry. We appreciate that many of you have travelled from as far afield as China, Tahiti and Australia. The global crisis has affected us all and this is the ideal time for the pearl industry to coordinate its future growth plans and employ a comprehensive strategy for all aspects of the trade. It is important to focus on the development of unexplored markets, while at the same time creating greater awareness about pearls amongst customers."Discussions on the first day of the forum, included success stories from pearl experts including Paspaley, Robert Wan, Mikimoto and Jewelmer in addition to a topical speech on the current market outlook by Chris Figee, Partner at McKinsey & Company. The ensuing panel discussion on the economic outlook for the pearl sector, highlighted opportunities to overcome the possible impact of the current economic climate on the pearl industry by increasing granularity and marketing focus by ensuring that companies selected the right micro-markets and consumers including the "Noveau riche", City bankers and Baby boomers.Copyright Emirates News Agency (WAM) 2009.
