{"id":26406,"date":"2020-01-11T12:02:17","date_gmt":"2020-01-11T08:02:17","guid":{"rendered":"https:\/\/blog.dubaicityguide.com\/site\/?p=26406"},"modified":"2020-01-11T12:02:17","modified_gmt":"2020-01-11T08:02:17","slug":"dmcc-briefs-uae-minister-of-economy-on-its-future-plans-and-latest-updates-in-the-precious-metals-trade-in-dubai","status":"publish","type":"post","link":"https:\/\/blog.dubaicityguide.com\/site\/dmcc-briefs-uae-minister-of-economy-on-its-future-plans-and-latest-updates-in-the-precious-metals-trade-in-dubai\/","title":{"rendered":"DMCC Briefs UAE Minister Of Economy On Its Future Plans And Latest Updates In The Precious Metals Trade In Dubai"},"content":{"rendered":"
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DMCC\u00a0\u2013 the world\u2019s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise \u2013 hosted His Excellency Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, in its\u00a0Almas Tower\u00a0headquarters on 9 January 2020, for a briefing on DMCC\u2019s role in facilitating, promoting and driving global trade through the emirate of Dubai.<\/p>\n

Accompanied by a senior team from the\u00a0UAE Ministry of Economy, His Excellency toured Almas Tower and visited both the UAE Kimberley Process (KP) Office and Dubai Diamond Exchange (DDE) \u2013 the world\u2019s largest diamond trading floor. His Excellency also joined an industry roundtable with leading representatives of the UAE\u2019s precious metals, diamond, and jewellery trade to discuss continued government support of the sector, and key milestones ahead. The ministerial delegation included His Excellency. Abdulla Al Saleh, Undersecretary for Foreign Trade, and His Excellency Juma Al Kait, Assistant Undersecretary for Foreign Trade.<\/p>\n<\/div>\n

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\u201cThe UAE is highly competitive in the gold, diamonds and precious metals trade. In fact, this is one of the most important sectors supporting the UAE\u2019s economic diversification efforts, and the promotion of the country’s non-oil foreign trade. DMCC plays a major role in supporting and developing the Emirate\u2019s capabilities and consolidating its position as a leading precious metals trading hub in the region,\u201d said\u00a0His Excellency Sultan Bin Saeed Al Mansouri, UAE Minister of Economy<\/strong>.<\/p>\n<\/div>\n

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\u201cIn 2018, the UAE ranked first in the Arab world and fifth globally in terms of value of exports and re-exports of precious metals. The UAE also ranked fifth globally in terms of gold exports, second globally for diamond re-exports, and first globally in jewellery re-exports\u201d he added.<\/p>\n

His Excellency also reiterated the importance of the Kimberly Process (KP), which the UAE joined since inception. The UAE has been committed to the international standards set by the KP to ensure the safe entry of diamonds to the UAE market only through trusted sources, devoid of any suspicious activity related to funding of other nations\u2019 conflicts, in line with state values and principles.<\/p>\n

\u201cWith the support of the UAE Ministry of Economy and other partners in government, DMCC has created an unrivalled ecosystem for the precious metals, diamond and jewellery trade. Already this year we have witnessed a surge of interest from traders across the world wanting to do business in, and through Dubai. Attracting this business to Dubai will significantly increase our contribution the UAE\u2019s non-oil GDP in 2020,\u201d said\u00a0Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC<\/strong>.<\/p>\n

\u201cLooking ahead, DMCC will continue to build an ever closer relationship with the international precious metals, diamond and jewellery industry, and strengthen Dubai\u2019s reputation as a leading innovative trade hub,\u201d he added.<\/p>\n

The 17,000 companies based in\u00a0Jumeirah Lakes Towers\u00a0(JLT) and registered by DMCC, collectively contribute over 10 per cent to Dubai\u2019s overall GDP. In 2019, DMCC was named \u2018Global Free Zone of the Year\u2019 for a record fifth consecutive year by the Financial Times\u2019 fDi Magazine.<\/p>\n

The visit of His Excellency follows the recent introduction of policy by the UAE Cabinet to enhance the country\u2019s status as a global hub for gold and jewellery trade. Designed to enhance the competitiveness of the UAE in the regional and international gold markets, the policy is structured across three main pillars of governance, sustainability and innovation.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

DMCC\u00a0\u2013 the world\u2019s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise \u2013 hosted His Excellency Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, in its\u00a0Almas Tower\u00a0headquarters on 9 January 2020, for a briefing on DMCC\u2019s role in facilitating, promoting and driving global trade through the emirate of Dubai. Accompanied […]<\/p>\n","protected":false},"author":1,"featured_media":26407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-26406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/26406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/comments?post=26406"}],"version-history":[{"count":1,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/26406\/revisions"}],"predecessor-version":[{"id":26408,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/26406\/revisions\/26408"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media\/26407"}],"wp:attachment":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media?parent=26406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/categories?post=26406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/tags?post=26406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}