The inaugural Dubai Global Gem & Jewelry Fair (GGJF) jointly sponsored by the Gem & Jewelry Export Promotion Council of India (GJEPC) and the Dubai Multi-Commodities Center (DMCC) was declared opened today (Thursday, March 20, 2014) at Atlantis, The Palm Hotel, the venue of this international event, by Mr. Ahmed bin Sulayem, executive chairman of the DMCC, Mr. Vipul Shah, chairman GJEPC and His Excellency T.P. Seetharam, Indian Ambassador to the UAE, who jointly cut the tape formally opening the fair.
The exclusive invitation-only three-day event features 130 exhibitors, mainly from India and the Gulf Co-operation Council (GCC), exhibiting in over 170 booths spread across 3,100 square meters and attended by 600 select intermational buyers from across the globe, including GCC, KSA, Egypt, Lebanon, Bangladesh, Singapore, Eastern Europe, Russia, South Africa, Sri Lanka, Turkey, Pakistan and Malaysia. The Dubai GGJF will provide an ideal platform for international buyers and sellers, as they seek to trade top quality gems and couture jewelry during the three-day event.
Addressing the distinguished gathering soon after declaring open the inaugural show, Ahmad Bin Sulayem, executive chairman, DMCC, said, “We have enabled Dubai to establish itself as the global gateway for commodities trade by building the infrastructure required for industry participants to trade with confidence, much like what we will see unfold here at the inaugural Dubai Global Gem and Jewellery Fair. We look forward to hosting buyers and sellers from all across the globe as well as showcasing the finest in diamonds, jewellery and gemstones in collaboration with the GJEPC.”
“The GGJF also brings to Dubai a new wholesale jewelry market and buyers from over 25 different countries to the Emirate. Dubai has a strong track record in hosting these types of events due to its business friendly and innovative spirit clearly demonstrated by the recent World Expo 2020 bid win.”
The achievements of the DMCC in enabling the rapid growth in the flow of trade and enterprise through Dubai is clearly demonstrated by the statistics of the flow of gold and diamonds through Dubai, during the decade from 2003 to 2013. During this period while the flow of gold increased from $6 billion in 2003 to $70 billion in 2013, the flow of diamonds increased from $3-5 million in 2003 to $39 billion in 2012.
Mr. Vipul Shah, the chairman of the GJEPC, said, “The UAE is one of the top 13 gold consuming countries and accounts for 40 percent of India’s gem and jewelry exports. With India being the world’s leading diamond-cutting and polishing center and fast emerging jewelry hub, it is only natural that the first international initiative hosted by the Council is held in Dubai.”
Continuing further, Mr. Shah added, “In 2013, of India’s total gem and jewelry exports of $36.4 billion, $14.4 billion worth of exports went to the UAE. Dubai is the single largest destination of Indian gem and jewelry products. The show leverages Dubai’s recognized status as the luxury retail and financial capital of the region and showcases the finest in gemstones, diamonds and jewelry from the crème de la crème from India and UAE.”
The event will host all stakeholders of the worlwide gem & jewelry industry, including manufacturers, wholesalers, retailers, importers and exporters. Among the leading exhibiting jewelry companies at the show are Dhamani, Rosy Blue, Gitanjali Gems, Kama Schachter, Jewels Emporium and many more.