JEDDAH, 17 September 2007 -- The ongoing "Jeddah the Gate of Gold" festival has been extended through Ramadan, Eid Al-Fitr and the Kingdom's national day which falls on Sept. 23, according to the organizers.
The Jeddah Chamber of Commerce & Industry's (JCCI) gold and jewelry committee and the World Gold Council (WGC), the joint organizers of the festival, had extended the festival due to a 30 percent increase in demand for gold and jewelry, especially during the festival that began with the recent Jeddah Summer Festival, Bisher Diab, WGC's Gulf consultant told Arab News.
To celebrate the success of the festival, the JCCI hosted a meeting with JCCI President Saleh Al-Turki, Jamil Farsi, head of the JCCI's gold and jewelry committee, and Diab, aside from ARA Group (MBC Group). Representatives of Jeddah Labor Office and Human Resources Fund joined the Saudization department of the JCCI in congratulating the graduates of a joint training program for gold and jewelry at the event last week when festival partners were also honored.
Describing the gold festival as an "unprecedented success," Al-Turki said teamwork was the hallmark of the successful campaign. "Growing demand for gold is due to the growth of purchasing power in the Kingdom," he said. Farsi said Jeddah's importance as the commercial hub had made the WGC to name the campaign as the "Gate of Gold." The festival attracted the attention of a great number of people, which also reflected the excellent coordination between the gold and jewelry committee and the WGC, he added.
Farsi admired the efforts of the Jeddah Governorate, the JCCI and the Supreme Commission for Tourism that resulted in the success of the festival. He said Jeddah justified the "Gate of Gold" as the festival name as the city boasts hundreds of factories and major workshops, more than 200 medium and small enterprises, and being the center of the wholesale trade for gold and jewelry. The city has more than 800 gold and jewelry retail outlets. The gold and jewelry committee's efforts are concentrated on developing this sector, especially in nationalizing the labor force. In cooperation with the JCCI, the committee conducts and supports various training courses for Saudis so that they qualify for jobs on a "realistic, scientific and practical" basis. "The WGC will have an important role to play as it plans to introduce its first Arabic scientific curriculum for training goldsmiths.
The newly-established National Committee of Gold & Jewelry will review the curriculum, which is aimed to promote this craft in the Arab world, and give its scientific and practical suggestions," Farsi added.
Diab appreciated the support extended by Jeddah Governor Prince Mishaal to the efforts of the festival organizers. He said this was the first time that passengers arriving at King Abdul Aziz International Airport were given a chance to win festival prizes by seeking the counterfoils of their boarding passes to be dropped in a special box at the information center of the Supreme Tourism Committee. "This helped a great deal in extending the reach of the festival," Diab said.
"Gold symbolizes wealth and beauty and the industry is considered one of the oldest and most professionally run in the world," Diab said, adding that gold jewelry products are still on top in providing the end-consumers with most beautiful and refined luxury products whose value does not vanish by time.
Jeddah has historically remained a great city for gold and jewelry and the main source for the two holy cities. Visitors and pilgrims have always preferred to carry with them gold and jewelry items when returning home for their dear ones. "The city has earned an international reputation for excellent quality of fabrication and accuracy of karatage," Diab added.
He said with the inclusion of seven new member-countries into the WGC last year, the financial capabilities of the council stand enhanced for financing researches, marketing and promoting programs of gold products and jewelry in the countries that the council covers as well as expanding the geographical scope of the council's operations. The WGC now has 24 members contributing to about 40 percent of the total gold supply in the world. Thus, the main role of the council is reinforced in increasing the gold demand worldwide. According to the latest statistics, demand for gold has been growing in the countries that are covered by the council. For example, the demand exceeded in the second quarter of the year by 20 percent in the Middle East , and the demand increase reached 30 percent across the Kingdom.
Diab said that the festival prizes and gifts reached more than $320,000, of which about 10 kg gold was converted into gold coins engraved with the "Jeddah the Gate of Gold" logo. Also, 362 gold and jewelry outlets participated in the gold festival this year. They included gold shops outside the city for the first time. Moreover, all major markets and commercial centers, including more than 200 gold and jewelry outlets, participated in this festival. They included the "Wonders of Gold" showroom at the Gold International Center, claimed to be the biggest gold jewelry showroom in the Arab world, which consists of more than 30,000 products of traditional gold and fashionable jewelry and wedding dresses, and the Al-Hijaz Mall which has hundreds of outlets of international brands.
This year, many "golden" entertainment activities took place during the festival, sponsored by Taiba Gold and Jewelry Co. and L'Azurde, the biggest gold and jewelry factory in the Arab world. Family entertainment centers at amusement and theme parks also provided platforms for such entertainment. All such programs were covered by MBC Group on its television and radio channels and by Future and Rotana TV channels.
By Khalil Hanware & K.S. Ramkumar
© Arab News 2007
