DMCC & DGCX host visiting delegation from Japan

Dubai, January 29, 2006: The Dubai Metals and Commodities Centre hosted a trade delegation from the Tokyo Commodities exchange (TOCOM) today. The 19-member Japanese delegation was headed by Nangaku Masaaki, the Chairman of the TOCOM Board and included senior officials from several member organisations of the Tokyo Commodities Exchange.

Dr. David Rutledge, Chief Executive Officer and Ahmed bin Sulayem, Chief Operating Officer of DMCC, presented the Japanese delegation with an overview of the centre, its objectives and the industry specific facilities offered by the DMCC. The delegation also met with Mr Colin Griffith, the newly appointed Chairman of DGCX and Mr. Framroze Pochara, Chief Executive Officer, DGCX.

"The DMCC's strategic location at the cross roads of the East and the West has ideally positioned it to be the gateway to the vast emerging commodities markets in the MENA region and the sub-continent and this visit from the Tokyo Commodities Exchange (TOCOM) is a significant indication of the international interest Dubai is generating across the world as a trading centre for commodities," said Dr. Rutledge.

"We are honoured to host this high profile delegation today, as it is in keeping with our objective to strengthen relations with international commodities exchange centres. We look forward to working closely with TOCOM to identify areas of common interest and hence further drive the international trade in commodities to greater heights," he said.

The delegation included senior representatives from several TOCOM member companies including Okafuji, Asahi Universal Trade, Ace Trading, Okachi, Okayasu, Kobayashi Yoko, Sanki Trading, Shin Nihon Shohin, Tokyo Comwell, Japan Unicom, Harvest Futures, Mitsui Futures, Mitsubishi Futures and Yutaka Trading. It was also accompanied by Onosato Mitsuhiro, Member of the Board, TOCOM, Seki Ryochi, International Department, TOCOM and Hasegawa Shoji from TOCOM Promotion.

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DIAMONDS & COLOURED STONES (113 words)
The Dubai Metals & Commodities Centre, a strategic government initiative, rated 'A' by Standard & Poor's, is establishing Dubai as a diamond trading and value-adding centre of global significance alongside leading international diamond centres including Antwerp, New York and Mumbai.  Under a free zone status, DMCC will accommodate every facet of the business - manufacturing, trade, education, certification and technology.   

Streamlining the trade with global standards and protecting the legitimate diamond industry DMCC has been instrumental in implementing the Kimberley Process Certification Scheme (KPCS) in the United Arab Emirates. Through the creation of market-specific infrastructure, such as the Dubai Diamond Exchange, DMCC's industry initiatives provide a major impetus to the diamond industry in the region.

For further information please contact:
Tim Harrison 
Sudha Chandran
ASDA'A Public Relations
Exclusive Affiliate of Edelman
Middle East & North Africa
Dubai
UAE
Tel: 971-4-3355969
Fax: 971-4-3356080
E-mail: t.harrison@asdaa.com 
E-mail:  s.chandran@asdaa.com
Website: www.tocom.or.jp

© Press Release 2006