19th MidEast Watch and Jewellery Show opens at Expo Centre Sharjah

The MidEast Watch and Jewellery Show is a bi-annual event held under the patronage of H.H.Sheikh Sultan Bin Mohammed Bin Sultan Al Qassimi, Crown Prince And Deputy Ruler of Sharjah.

Present at the opening ceremony of the show were Mr. Ahmed Mohammed Al Midfa, Chairman of the Sharjah Chamber of Commerce & Industry (SCCI), Mr. Mohammed Salem Al Mosharrekh, Board Member - Expo Centre Sharjah, Mr. Fasahat Ali Khan, Acting Director General - Expo Centre Sharjah, officials of various government departments, and members of the diplomatic corps and trade associations.

The current Show features 225 exhibitors from 25 countries including national pavilions from Hong Kong - China, India, Italy, Turkey, and Russia.

Among individual countries from where a majority of the exhibitors are participating at the event are Bahrain, Hong Kong - China, India, Italy, Jordan, Japan, Saudi Arabia, Kuwait, Lebanon, Malaysia, Pakistan, Russia, Singapore, Sri Lanka, Thailand, Turkey, and the UAE.

Like in all previous editions, this time too, visitors will be treated to the most fascinating and a wide range of choices in gold, diamond, pearl, silver, gems, precious stones, loose pearls, pearl sets, crystals, watches, timepieces, clocks, and other jewellery displays.

Given that Show is the Middle East's first gold and diamond jewellery exhibition that is displaying the 2005-06 autumn and winter collection, the region's jewellery connoisseurs really can't afford to miss this event.

"The MidEast Watch & Jewellery Show has over the year's grown significantly, both in terms of the number of exhibitors and occupied exhibition space . It is a matter of great pride that even after 18 editions, this event continues to be the most successful watch and jewellery event in the Middle East with a exhibitor retention rate of as high as 95%," said Mr. Ahmed Mohammed Al Midfa, Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), at the opening ceremony.

"This show has been successfully bringing people from across the Middle East who have a pronounced affinity towards gold jewellery and watches and some of the finest jewellers from across the globe on a single platform. The show's success can be gauged from the fact that even after so many editions , there has been no let up in either exhibitor numbers or visitor attendance. In fact both have been rising consistently,"

he added.

The current edition occupies a total exhibition space of 10,800 sq. m. as compared to 8,000 sq. m in the last edition.

"The 19th edition of the MidEast Watch and Jewellery Show is the region's first jewellery exhibition to display the 2005-06 autumn and winter collection," said Mr. Fasahat Ali Khan, Acting Director General, Expo Centre Sharjah.

"Jewellery connoisseurs will therefore be treating it as a 'must visit' event. The popularity of this event has been growing primarily because of regional population's strong affinity towards gold and diamond jewellery," Mr. Khan said.

Mr. Khan further said that the year 2005 was a period of steady growth for gold and diamond trade.

"Gold is forecast to climb to USD $ 500 per ounce by the end of 2005. As far as consumption goes, it is expected to continue receiving major boost from strong oil prices leading to rising GDP of the Gulf States. The regional diamond trade too never looked better. The UAE, by opening a Diamond Exchange and implementing the Kimberley Process Certification Scheme (KPCS) has consolidated its position as a major diamond trading hub in the region," said Mr. Khan.
As per World Gold Council (WGC) figures, retail gold sales increased by over 19 per cent from Dh 1.5 billion to Dh1.8 billion in the second quarter of 2005 compared to the same period of 2004. On the other hand, the UAE gold consumption in terms of tonnage experienced a 10 per cent increase in the same period.

The gold jewellery consumption increased by over 9 per cent from 26.4 tonnes in 2004 to 28.9 tonnes in 2005, while retail investment (bullion coins and bars) consumption increased by 20 per cent from 1.5 tonnes in 2004 to 1.8 tonnes in 2005.

On the diamond trading front, UAE exported and re-exported rough diamonds worth Dhs 5.4 billion in 2004 compared to Dhs 4.4 billion the year before that. Its import of rough diamonds reached Dhs 3.2 billion in 2004 compared to Dhs 2.1 billion in 2003.

"The increased sale of gold and diamond jewellery in the Middle East, especially in the UAE, may be attributed to the increase in the number of tourists, as well as a booming economy and sustained promotions," said Mr. Saif M. Al Midfa, Manager - Expo Marketing Services (EMS), Expo Centre Sharjah.

"The MidEast Watch and Jewellery Show is an event that clearly reflects the significant growth that the jewellery trade in the region is experiencing. The event is an ideal platform for those engaged in the business to target high net worth buyers as well as traders from the region," Mr. Saif M. Al Midfa added.

Some of the major participants at the 19th MidEast watch and Jewellery Show are Pak Fook, Vitorisn, and Orient Pearl from China, Unialmaz, Onsaz Jewellery, Santosh, Tibrewala from India, Imvidia, Noi Gioielli, Belle Arte, Tutti Frutti from Italy, May Jewellery from Japan, Al Baraka, Jewels, Almas, La Reine, Luna, Sergio, Demanto from Lebanon, Lazo Diamond Jewellery, Permata Shahyan Jewellery from Malaysia, Nilgiri's from Singapore, Bipre Trading from Thailand, Osmanli and Anatolia from Turkey, Diamond House from Qatar, and MSM Jewellery, H.V.Diamonds, Blue Bell, Shalimar, Twinkle, Unique Diamond, Diasqua, Pristine Jewellery, and Dhruvstar from UAE.

The MidEast Watch and Jewellery Show is organised by Expo Centre Sharjah with the support of the Sharjah Chamber of Commerce and Industry (SCCI). The event also has the support of the World Gold Council (WGC).

"Besides a wide ranging and choicest display of some of the latest and most exquisite collection of jewellery and watches, the current edition of MidEast Watch and Jewellery Show will be a major crowd puller because of several other attractions including opportunities for buyers to win gold bars and other valuable prizes, free entrance for ladies and teenagers between 12 and 17 years of age, dedicated children play area, and exclusive timings for ladies between 11 am and 4 pm on the 16th and the 17th of November," said Ms. Taghreed Khallaf, Group Project Manager, Expo Centre Sharjah.

The 19th MidEast Watch and Jewellery Show is open for the general public on November 15 and 19 between 11 am and 10 pm and on November 16, 17, and 18 between 4 pm and 10 pm. The show is open exclusively for ladies on November 16 and 17 between 11 am and 4 pm. Children below 12 years of age are not allowed in the exhibition halls.

All proceeds from the sale of entry tickets at the 19th MidEast Watch and Jewellery will be donated for the welfare of the victims who were affected by the devastating earthquake that stuck Pakistan on October 8, 2005.