International jewellery industry leaders to converge in Dubai

Organised in association with the Dubai Multi Commodities Centre, the conference will take place from April 12-13, 2008 at the Park Hyatt, Dubai.

The two day annual event is held under the patronage of HH Sheikh Ahmed Bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman and Chief Executive of Emirates Group. It will set the pace for intense discussions on the current state of the industry with a view to integrate efforts across the value chain to collectively face the challenges of price rises, supply crunch and onslaught from luxury industry. The conference will also focus on training and education, certification processes and adopting innovative retailing to maintain standards of services.

Speaking on the conference and its relevance to the region, Tawfique Abdullah, Chairman of Dubai Gold & Jewellery Group said,

“The Dubai City of Gold Conference is an important event as it discusses ways to boost the growth of the global jewellery industry which is valued at around $146bn, of which the GCC represents 10% with a value of $14.5bn. The jewellery sector is the 3rd biggest contributor to the UAE economy and a major supporter of national wealth creation. Almost 8,000 GCC nationals are involved in the industry and by 2011 this number is expected to go up by 10%. The jewellery industry is also a catalyst in driving tourism –the conventional gold souks are a great attraction with their range of branded and local jewellery at the best quality and prices.”

”Worldwide the industry is facing many challenges and the 6th Dubai City of Gold Conference will examine the major issues and call for collective efforts to face the challenges,” Abdullah added.

Ian MacDonald, Executive Director for Gold and Precious Metals, DMCC, commented: “Gold price fundamentals have continued to remain extremely strong over the past months, making a strong case for investing in the metal. The price rise has been primarily investor driven, underlining the monetary value of the metal and offering an increasing range of investment opportunities for both the individual and institutional investor. The forthcoming City of Gold conference will present an excellent platform to discuss such investment opportunities.”

MacDonald will be speaking at the conference on ‘City of Gold – Success and Future’. Other speakers for the two day event include Paul Walker, Chief Executive Officer – Gold, GFMS Limited who will present the ‘2008 Gold Survey Results’; Moaz Barakat, Managing Director (Middle East, Turkey & Pakistan) – World Gold Council (WGC) will expand on ‘Marketing Gold Jewellery in Today’s Volatile and Rising Gold Price’; Dr. Gaetano Cavalieri, President – The World Jewellery Confederation will speak on ‘Enhancing the Marketing Message of Fine Jewellery’ ; and Mark Von Bockstael, Chief Officer – Antwerp World Diamond Centre will elaborate on the lessons learnt from ‘Five years into the Kimberley Process’.

The conference will feature interesting panel discussions including ‘Gold Forecasts and Price Trends’. It will be the most worthy of note owing to the high volatility and record high price of gold in the recent months.

Transguard Security Services and ABN Amro Bank have also extended their support to the conference as key sponsors. Transguard works closely with the region's gold traders throughout the year, ensuring the security of their precious commodities through the entire supply chain. According to Rabie Atie, Manager, Transguard Emirates Group Security, “The Dubai City of Gold Conference is a must-attend event for everyone involved in the jewellery supply chain. For us, it is an invaluable opportunity to meet with our supply chain partners and customers and look at ways to enhance our transport processes.”

Speaking on the conference, Victor van der Kwast, CEO of the International Diamond & Jewellery Group, ABN AMRO Bank, commented, “For the last several years the Dubai City of Gold Conference has rapidly gained importance and international impact. This once more underlines Dubai's fast growing role as one of the key regional and also global centres for diamonds, jewellery, gold and other precious metals. The conference's theme of 'value chain integration' is a perfect match to our ambition to support and assist our current and future clients to grow beyond traditional boundaries of markets and geographies. Our global reach and footprint provide our clients with an excellent opportunity to continue their aspirations and to be supported by a trusted partner that really understands and is committed to their business needs.”

In addition, Standard Bank, World Gold Council, HSBC & Emirates NBD are support sponsors of the 6th Dubai City of Gold Conference.