The Industry convenes for Dubai Diamond Conference 2022.
DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – today hosted its flagship Dubai Diamond Conference (DDC) held under the theme “The Future of Diamonds”.
In his opening remarks, Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, announced that the UAE reached the top spot globally as a rough diamond hub, trading over USD 22.8 billion worth of rough diamonds in 2021. The country’s polished segment continues to grow at pace, closing in on the current market leader.
Since 2015, the UAE has increased its rough diamonds trade by 76%, overtaking Belgium as the world’s leading rough trade hub. The total diamond trade in the UAE grew by 83% between 2020 and 2021, demonstrating both the industry’s resilience and Dubai’s critical role in the global sector. Dubai boasts direct flights to other diamond hubs across the world, including mining countries in Africa and manufacturing centres in India, resulting in a connected supply chain with Dubai at its centre. Additionally, Dubai is home to the two Kimberly Process (KP) offices in the UAE, making the emirate the only entry point for rough diamonds in the country.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, and Chairman, Dubai Diamond Exchange, said: “I am humbled to share that in 2021, Dubai, UAE, became the number one rough diamond trading hub in the world. With USD 22.8 billion in rough trade last year, we are continuing to grow thanks to the trust and support received from so many of our guests here today – we accomplished this together. This major milestone clearly demonstrates the determination of both Dubai and DMCC in advancing the global industry.
DMCC’s Dubai Diamond Exchange is the largest diamond tender facility in the world and home to over 1,100 diamond companies, providing members and industry professionals with state-of-the-art infrastructure, facilities and services to trade with confidence.
source/content: mediaoffice.ae
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UNITED ARAB EMIRATES (U.A.E)