Italy's leading jewellery organization to partner with Gold and Jewellery Group

The UAE is the second largest consumer of Italian jewellery worldwide after the United States, and with this in mind, the talks focused on the development of Dubai as a major external manufacturing hub for Italian jewellery, and also the further development of the city as a retail market for Italian designs.

The meeting was attended by representatives of the Gold and Jewellery Group, and a team from Vicenza Fair International - an official industry body that represents the jewellery manufacturers and traders of Vicenza. Representatives included Prof. Manuela Dal Lago, President of Vicenza Province and President of Fiera Di Vicenza, and Andrea Turcato, Executive Director of Fiera Di Vicenza.

Commenting on the delegations discussions with the Gold and Jewellery Group, Prof. Manuela Dal Lago, said: 'We have long identified Dubai as an ideal location from which to develop, and extend, the global reach of the Italian jewellery business. Dubai is a truly unique jewellery market globally, especially from a manufacturing standpoint.'

'Nowhere else offers the optimal mix of a skilled labour force, an open and encouraging business environment, and government backed state-of-the-art infrastructure that supports the entire jewellery value chain. It is not surprising that this city has rapidly become a jewellery manufacturing and retail hub of note. We are extremely encouraged by the enthusiasm shown at the meetings, and we are confident that our partnership with our colleagues here in Dubai will open up a number of interesting business avenues for our industry and its members.'

A Gold and Jewellery Group delegation are now scheduled to travel to Vicenza to hold talks with key manufacturers there to explore the possibilities or relocation and expansion of their operations to Dubai. The objective of the visit will be to bring Italian manufacturing facilities to Dubai, much of this external manufacture of Italian jewellery is currently being produced in the Far East.

'Our discussions have identified definite synergies between Dubai and Vicenza. We are committed to the establishment of an excellent remote manufacturing centre for Italian jewellery here,' said Tawhid Abdullah, Chairman of the Gold and Jewellery Group.

The Emirate has the skilled manpower to set up such a centre. We are proud to speak to our Italian counterparts as equals. Dubai's jewellery industry as a globally recognised consumer and producer of quality jewellery is unique. It is a credit to the trade that our city is a centre of excellence in both areas. We are excited about the possibilities that a relationship with Vicenza will bring the industry, both from a quality and financial standpoint. If just five of the main Dubai based manufacturers decide to integrate the Italian manufacturing processes, the locally based Italian jewellery manufacturing capacity will exceed 25 tonnes per annum, massively boosting our quality output,' he continued.

The Italian Jewellery business currently generates incomes of Euro 4 billion per annum, however, in 2003 there was a 22 per cent drop in consumption.

'The talks have provided us with a forum at which to discuss the state of Italian jewellery both locally and internationally. We have been visiting key international markets, such as this one, in response to the fact that the Italian jewellery business globally is in a state of decline. With a 22 per cent reduction in the consumption of Italian jewellery worldwide last year, we are eager to grow our global share of the market by proactively expanding our manufacturing base into highly skilled external markets such as Dubai. Dubai is the perfect regional platform from which to expand the operations of the manufacturers at Vicenza,' Andrea Turcato, Executive Director of Fiera Di Vicenza.

Vicenza is famous all over the globe for Vicenzaoro1, Vicenzaoro 2, and Orogemma, the three international shows dedicated to gold and silverware, jewellery and gemology respectively. Vicenza had also sponsored the Dubai - the City of Gold Conference, held in Dubai in December 2003.

Vicenza Fair International officials have also outlined how they plan to bring a premium jewellery exhibition in Dubai in association with the Gold and Jewellery Group.