Thai jewelry industry eyes Dubai market

Thai industry leaders at the DMCC, from left: BGJF CEO Somchai Phornchindarak, DMCC Executive Chairman Ahmed Bin Sulayem, TGJTA President Vichai Assarasakorn, TGJTA First Vice President Prapee Sorakraikitikul and TGJTA Vice Chairman of the Advisory Board Komson Opassathavorn.

Thailand, one of the world's leading gem and jewelry producers, is looking to add the Middle East to its growing list of export frontiers, based upon the region's high consumption of jewelry, strong purchasing power and booming economy.

Thailand participated in the MidEast Watch and Jewellery Show that took place in Dubai, United Arab Emirates, in April, and the Thai Gem and Jewelry Traders Association (TGJTA) is now working with the Dubai Multi Commodities Centre (DMCC), a trade association, on the possibilities of Thai operators setting up offices in Dubai and establishing sales outlets in the DMCC's Gems Club later this year.

"We are moving systematically into the Middle East, initially through Dubai in the United Arab Emirates," TGJTA President Vichai Assarasakorn said in a press release issued on Thursday.

Dubai also offers the potential to be a stepping stone for Thai jewel firms to enter the region, thanks to its role as the economic center in the Gulf and its liberal trade and investment systems, he said.

The DMCC has agreed to dispatch experts to disseminate information and data about the jewel market in the Middle East to Thai industry members at the 42nd Bangkok Gems and Jewelry Fair, to be held from Sept. 11-15, 2008.
Source: jckonline

Dubai Gold Trade Up 73% in First Quarter

Dubai Multi Commodities Centre said that gold trade through Dubai reached $7 billion in the first quarter of 2008, up by 73 percent during the same period in 2007.

Dubai’s gold trade has witnessed consistent growth over the last six months, registering a 42 percent increase over the fourth quarter of 2007, when it reached $4.96 billion, DMCC said. Gold price averaged $925 per ounce during the first quarter of 2008.

According to figures compiled by the Statistics Department of Dubai World, a total of 115 tons of gold was exported from Dubai in the first quarter of 2008, an increase of 74 percent from the corresponding period in 2007, and 49 percent higher than exports during the last quarter of 2007. Gold exports from Dubai recorded 66 tons in the first quarter of 2007, rising to 77 tons in the fourth quarter of 2007.

In addition, 122 tons of gold was imported into Dubai during the first quarter of 2008, with imports mostly comprising scrap and jewelry. With a quarter-on-quarter comparison, this figure is an increase of 14 percent from 107 tonnes in the fourth quarter of 2007, although imports have recorded an eight percent decrease from 132 tons for the first quarter in 2007.

“With global gold prices crossing the $1000 mark and remaining significantly high throughout 2007, there has been an impact on the volume of imports into Dubai,” said Ian McDonald, executive director - Gold and Precious Metals, DMCC. “However, in keeping with global trends, gold refining has also been on the rise. With scrap becoming an important component of imports, the Emirate’s growing significance as a gold refining centre has been further emphasized. In addition, increasing export volumes of gold bullion have given a boost to Dubai’s role as a leading physical hub for the regional gold trade.”
Source: jckonline

DMCC, Panyu, China to Promote Jewelry Trade

Dubai Multi Commodities Centre on Wednesday signed a Memorandum of Understanding with the People's Government of Panyu District, China, for increased cooperation towards mutual growth and the promotion of jewelry trade between both countries, with a special focus on diamonds and colored stones.

The MoU is in line with the recent visit of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, vice-president and prime minister of the United Arab Emirates and Ruler of Dubai, to China to strengthen ties between the UAE and China.

Under the terms of the agreement, both parties will mutually promote the jewelry trade, with the intention of collectively developing a strong presence in international markets and establishing a global influence. This will be accomplished through the exchange of market expertise in jewelry design, training, business opportunities, and educational initiatives, in addition to facilitating the reciprocal operation of visiting jewelry trade delegations.

Led by Mr. Tan Ying-hua, party secretary of the Panyu People’s Government, the 11-member delegation from the Government of Panyu visited the DMCC offices, ahead of the signing of the MoU. Delegation officials from the Panyu People’s Government included the vice president of the Panyu Jewellery Manufacturers Association and the Jewellery and Diamond advisor to the Panyu Government. Ahmed bin Sulayem, executive chairman, DMCC, presented each member of the delegation with a Chinese version of His Highness Sheikh Mohammed’s book: “Royati – My Vision”

“Our MoU with DMCC … will enable us to explore the extensive scope of the emerging markets in the high growth economies of the Middle East," said Tan Ying-hua. "We aim to jointly create an environment conducive to business, and a solid platform for the exchange of knowledge. This will be of immense value to the diamond and gemstone traders between Panyu and Dubai, and will enhance opportunities for increasing jewelry trade volumes.”

DMCC and the Government of Panyu will form a four-member steering committee to assist in discussing the wider scope of the MoU. The MoU also seeks to encourage youth exchange programmes and establish cultural delegations in the fields of art and music, with the intention of promoting friendship between the two countries.

“DMCC is very pleased to enter into this cooperative relationship with the Government of Panyu, China, which will open up new avenues for strengthening trade links between two prominent economies," said Ahmed bin Sulayem, executive chairman, DMCC. "Panyu has rapidly emerged as the gem and jewellery capital of China. Through DMCC’s partnership with them, we are confident that we will see greater acceleration in jewellery trade between both countries.”

Panyu, a district of Guangzhou situated in the Guangdong province, accounts for more than a fifth of China’s export of gold and inlaid jewelry. Panyu has nearly 400 enterprises employing more than 70,000 workers within the jewelry trade. In 2007, the total value of domestic export was $1.32 billion. Panyu is also set to host the ninth International Coloured Gemstone Association Congress in 2009.

Seated Left to Right: Ahmed bin Sulayem, executive chairman, DMCC; 
Tan Ying-hua, party secretary of the Panyu People’s Government at the MoU 
signing ceremony between DMCC and the People's Government of Panyu District, China.
Source: jckonline

Dubai Sets Up First Gems & Jewelry Academy

The ARY Group has initiated the establishment of an
Academy
of
Gems
and Jewelry in
Dubai
. The institute will reportedly offer diploma courses in design, manufacture, assaying and management of gems and jewelry.

The region has been witnessing tremendous growth in the consumption of gold and jewelry as well as more jewelry retail outlets and employment opportunities.

AME Info quoted Sarwat Abdul Razzak, CEO of the ARY

Academy
of
Gems

and Jewelry: "Today, the jewelry industry requires not mere traders but knowledgeable workers and entrepreneurs."

She added: "As a business leader, we want society to benefit from our heritage and we believe grooming a generation capable of maintaining quality and excellence in the industry is the best we could do. The ARY group has always drawn its strength from the reputation of the UAE, especially
Dubai
, as a major hub of gold trade. Hence we consider
Dubai
as the ideal choice for this Academy."
Source: israelidiamond

21% increase in demand for jewellery boosts Dubai's retail jewellery event

This diversity in attendance has influenced the organiser to unveil a brand new three-show format this year that promises to have something for everyone. Besides the high-end Areeq Dubai and a trade specific show Jewellery Trade Dubai, Dubai International Jewellery Week 2007 will also feature an exclusive retail event designed to cater to every aspect of the jewellery retail industry - Jewellery Collections Dubai.

Jewellery Collections Dubai will be held from the 11 - 15 December at Dubai International Convention and Exhibition Centre and promises to be Dubai's jewellery retail event of the year, with companies from across the globe coming together under one roof to showcase their latest creations.

The strategic position of the two other jewellery events, Areeq Dubai and Jewellery Trade Dubai, alongside the retail event, will provide traders with tremendous synergy and benefits exclusive to Dubai International Jewellery Week.

Mr. Helal Saeed Al Marri, Director General, Dubai World Trade Centre, organiser of Jewellery Collections Dubai commented,

'Having all the big names of the retail jewellery industry under one roof is Jewellery Collections Dubai's greatest appeal, making it the number one event in the UAE. Support from key industry associations and brands has been tremendous and we are looking forward to the best edition yet.'

With retail gold jewellery sales in Dubai in excess of AED 6 billion a year and rising, it makes perfect business sense to have a focused event such as Jewellery Collections Dubai Previous editions of the Dubai Jewellery Event have seen a tremendous increase in the number of retail exhibitors and related visitors, providing an exclusive platform like Jewellery Collections Dubai will only further attract a targeted audience.

According to Mr. Tawhid Abdullah, Chairman of the Dubai Gold and Jewellers Group (DGJG), 'This is the world's fastest growing jewellery market and the foundations are strong enough for it to double its retail space in the next four years.'

The World Gold Council reported a 21% increase in demand for jewellery in the first quarter of this year alone, with buying trends largely boosted by an increasing per capita income that ranks amongst the highest in the world.
The show's ever-growing long time popularity has seen exhibitors returning year after year.

Samra, for instance, has been a constant participant in the Dubai Jewellery over the years, and has witnessed the growing support from the national and international visitors at the fair. Samra will be presenting its Winter 2007 collections at Jewellery Collections Dubai and according to Mr. Samer Abou Samra, Assistant Managing Director, 'The show will be the perfect platform to introduce our Winter 2007 collection, as it gives us a great opportunity to meet with our retail and international trade customers and ensure that they are the first to see the new collection.'

Karim Merchant, Managing Director of Pure Gold Jewellers said, 'Pure Gold Jewellers is honoured to be able to participate in this year's Dubai International Jewellery Week. Pure Gold Jewellers is a major player in the region's local and international jewellery retailing. It is now one of the fastest growing jewellery houses in the UAE catering to customers in neighboring GCC countries in Kuwait, Oman and Bahrain.'

'We have been working very hard to develop wonderful new product features to our existing brands and we are enthusiastic to finally unveil our new creations to the public. Our latest inspirations for our Pure Diamonds, Mosaico, Oystra, and Pure Sparkle brands will highlight striking white and gold jewellery beautifully adorned with rare-cut diamonds, freshwater pearls, and precious stones available in a variety of exquisite colors, carats, and shapes. We are positive that our participation in this show will further reinstate our commitment to deliver the best and only the best to our loyal customers in the region," Mr. Merchant added.

As well as a comprehensive collection of renowned exhibitors, Jewellery Collections Dubai will feature informative seminars regarding the latest trends, the 4 C's and much more. Leading jewellers displaying their latest collections include Al Masood, Amwaj, Damas, Dhamani, Forever Jovial, Pure Gold, Rosyblue, Samra, Thamina and Mahalatti.

Jewellery Collections Dubai will be held from the 11 -15 of December at Halls 5-8 at Dubai International Convention and Exhibition Centre with an exclusive ladies only viewing on the 13 December between 12pm - 4pm. Entry is free and all visitors will be entered into a free prize draw to win air tickets to a select shopping destination. Visitors under the age of 16 will not be permitted entry.
Source: ameinfo

Aspire Opens New Dubai Jewelry Factory

Aspire, a collaboration between Germany-based jewelry company Hammer Group and UAE-based jeweler Kareem, has opened a new manufacturing facility in the Dubai Multi Commodities Centre (DMCC.)

Aspire said it would design and manufacture high end jewelry and fashionable watches at the new facility with its staff of approximately 400 people.

The Hammer Group is a multinational jeweler with manufacturing, and a global distribution to some 4,500 retail outlets in 250 cities.

“We are proud to be associated with Kareemo Ltd.,” said Majid Algouneh, chief managing director of Hammer Group. “This partnership will give us the opportunity to bring our worldwide expertise to the Middle East, using Dubai Multi Commodities Centre as our hub for our operations.”

Moaz Barakat, managing director of Kareemo Ltd explained that Aspire DMCC would benefit from a mix of Middle Eastern expertise and European proficiency which would “add to the gold and jewelry industry of Dubai.”
Source: diamonds

Dubai's rough diamond trade increases 17%

Imports of rough diamonds into Dubai increased by 26 per cent to $937 million between January and June.

Dubai's rough diamond trade grew 17 per cent to $2.24 billion in the first half of this year compared with the same period in 2006 as the city of gold tries to build its reputation in the global diamond industry.

Imports of rough diamonds into Dubai increased by 26 per cent to $937 million between January and June, while exports were valued about $1.3 billion, a growth of 12 per cent, according to the Dubai Diamond Exchange (DDE).

In carat value, a total of 43.6 million carats were traded in the first half of 2007 compared with 39.8 million during the first half of 2006, said the DDE, a subsidiary of the Dubai Multi Commodities Centre (DMCC).

"The local rough diamond market has continued to witness significant growth. We are also witnessing a considerable growth in direct imports from leading mining countries like Russia and Angola, which clearly point to Dubai's rapid emergence as a global centre for the trade in rough diamonds," Ahmad Bin Sulayem, executive chairman of DMCC, said in a statement.

Roughly 65 per cent of the world's diamonds are mined in Africa. Dubai's major trading partners for rough diamonds include India, Europe, China, and Russia.

The total trade in rough diamonds in Dubai reached $3.93 billion for the whole of 2006, up from $3.73 billion in 2005.

Dubai's rough diamond trade had a record growth of 46 per cent in 2005 but has been slowing since then as the market matures.

Youri Steverlynck, chief executive officer of DDE, said the trade is improving through value-addition activities in the emirate.

"We are seeing a significant movement from transit trade through Dubai to local trade. In keeping with our mandate to grow the trade further, the DDE is continuously on the lookout for opportunities to facilitate the trade," he said.

As part of such efforts, the valuable cargo customs clearance office at Dubai International Airport recently extended its work week from five days to six days. It has also extended daily work by 9 hours and opens for 17 hours starting 7am.

"This new service will offer faster turnaround time for traders dealing in rough diamonds," the DDE said.
Source: gulfnews

IGI Jewelry Design Program Held in Dubai

The International Gemological Institute (IGI) School of Gemology launched its first International Professional Jewelry Design Program in Dubai during June 2007. The program was conducted in collaboration with the Dubai Gold & Jewellery Group.

The two-week course was led by IGI senior instructor Karika Kupur and attended by trade professionals as well as gem and jewelry enthusiasts. The program's goal was to expose participants to the fundamental concepts involved in professional jewelry design. Kupur encouraged attendees to channel their creativity, while at the same time being mindful of the commercial viability of their end products.

Students were taught basic illustration techniques along with practical aspects such as diamond and gemstone sizing, gold karat calculations, and final product pricing. Students were also treated to jewelry manufacturing factory.

"Until recently, IGI's Jewelry Design Program had been held only in Antwerp," stated IGI CEO Roland Lorié. The decision to take the program to an international level has been fruitful and continues to yield very positive feedback from students."

Tawhid Abdullah, chairman of the Dubai Gold & Jewellery Group, said, "The creativity and passion the students have shown during the IGI course is absolutely stunning. As Dubai looks to further develop its jewelry trade, it is essential to nurture this kind of talent. We will keep in touch with the students and support them as they embark on their careers."
Source: diamonds

Dubai Jewelry Week to be Held in December

Dubai International Jewellery Week, with three dedicated events for the jewelry trade, will be held Dec. 11-15 at the Dubai World Trade Centre. Each event is designed to target a specific audience. They are:

* Jewellery Trade Dubai – The Middle East Watch & Jewellery Trade Event, Dec. 11-13. This is the only trade jewelry exhibition in the Middle East and is the ideal forum for manufacturers, wholesalers, retailers and industry professionals at large, looking to establish business relationships in the whole region and beyond.

* Areeq Dubai – The Luxury Watch & Jewellery Boutique, Dec. 13-15. A collection of prestigious brands, unique pieces, and collectors’ items, this event is designed to attract only the most discerning and high spending consumers, high net-worth individuals, and private collectors. All exhibitors will be selected by a vetting committee.

* Jewellery Collections Dubai – The Ultimate Jewellery Retail Event, Dec. 11-15. It is an extensive showcase of jewelry and timepieces from all over the world, aimed at the region’s affluent consumers. About 15,000 people are expected to attend.
Source: jckonline