22 February 2005
DUBAI -- Dubai is no longer an importer of gold, but rather a manufacturing, moulding and fashioning centre, said Shaikha Lubna Al Qasimi, UAE Minister of Economy and Planning, while inaugrating the third 'City of Gold' conference yesterday.
The two-day seminar hosted by Dubai Gold and Jewellery Group (DGJG), will address key challenges faced by the jewellery industry. More than 300 delegates from around the world are expected to attend the seminar.
Al Qasimi said: "The choice of Dubai to host the third conference is a testimony of the outstanding role played by the United Arab Emirates in the international trade movements and operations. Being a bridge linking Southeast Asia, Africa and Middle-East, Dubai is rendered as one of the most important centres of re-exports. In Dubai, more than half of the imported gold most often is intended for exports. The published figures of 2004 manifested Dubai's gold imports exceeded 503 tonnes out of which 261 tonnes found its way through to export destinations, a re-export business worth a value of Dh 36 billion. The distinguished positioning of Dubai as a hub for gold and precious metals trade had motivated the establishment of Dubai Gold Exchange hoped to set in motion in the second half of the year."
The speakers at the conference include Stewart Murray, chief executive officer, London Bullion Market Association; Rian Raghavjee, projects manager, marketing, AngloGoldAshanti, Philip Olden, managing director, marketing and jewellery, World Gold Council; Dr. Gaetano Cavalieri, president, CIBJO; Paul Walker, chief executive officer, Gold Field Mineral Services Ltd; and Jean Daniel Pasche, president, Swiss Watch Federation.
The objective of the third Dubai 'City Of Gold' conference is to start building a marketing and communication programme to be used and adapted for each and every type of precious jewellery in all parts of the world.
BY SANDHYA D'MELLO
© Khaleej Times 2005
