A Dubai diamond dealer has become the first man based outside the West to be nominated for the Presidency of the World Diamond Council (WDC).
His vote of confidence comes as experts insist the emirate is now set to shine like never before. Peter Meeus, chairman of the board of directors of the Dubai Diamond Exchange - and a former head of the Antwerp World Diamond Centre, the traditional home of diamonds - made history with his nomination. But the future of diamonds, Meeus says, has moved from the West.
Forever.
Rough trading has shifted to Africa and manufacturing has switched to Asia. Leaving Dubai "ideally positioned, geographically and operationally to serve a pivotal role", said Meeus, speaking yesterday at the Dubai Diamond Conference 2013.
"We are truly at the centre of the 'New Silk Road' - and will bring it to its full potential." The Belgian national, from Antwerp, even thinks Dubai could leapfrog Mumbai to challenge his hometown as the world's diamond capital.
"Nothing is impossible - we already did the impossible in 10 years," said the 50-year-old. Ahmed Bin Sulayem, executive chairman of Dubai Multi Commodities Centre, agreed saying: "The global diamond industry is no longer dominated by Western countries." Views echoed by diamond giant De Beers.
With Southern Africa becoming a global rough diamond trading hub, De Beers is in the process of moving its headquarters from London to Gaborone in Botswana. Varda Shine, CEO of De Beers, reckons Dubai's an absolute gem too. With the industry moving from the West, Shine said that will lead to "tremendous opportunities for players in the diamond supply pipeline".
And Shine said: "Dubai has shown remarkable resilience in grasping these opportunities." Meeus, based in Dubai for eight years, will find out if he's got the top job later on this year.
© 7Days 2013
