Dubai and Angola explore opportunities to.Summary:  DMCC DMCC Dubai Multi Commodities Centre DMCC Data Management and Coordinating Center DMCC Data Management Coordinating Committee DMCC Diploma in the Medical Care of Catastrophes DMCC Division Movement Control Center DMCC Depot Maintenance Control Center delegation meets with Angolan government officials  Discusses opportunities for promoting rough diamond trade  Strengthens Dubai's focus on ethically sourced diamonds  DMCC delegation meets with Angolan government officials Discusses opportunities for promoting rough diamond trade Strengthens Dubai's focus on ethically sourced diamonds Dubai Dubai (d  bī`), sheikhdom (1995 pop. 674,101), c.1,500 sq mi (3,890 sq km), part of the federation of seven United Arab Emirates, SE Arabia, on the Persian Gulf. Multi Commodities Centre (DMCC) announced today that it has
begun exploring opportunities to strengthen ties with Angola in the area
of diamond trade. Dubai's delegation comprising Ahmed Bin Sulayem,
Executive Chairman of DMCC, Peter Meeus, Chairman of Dubai Diamond
Exchange and Paul Motmans, an expert on the Angolan economy, met with
senior government officials of Angola at a high-profile dinner meeting
in Luanda, Angloa, earlier this month.
Dubai and Angola are in the preliminary stage of outlining areas for cooperation to increase rough diamond trade volumes, in addition to other initiatives that can benefit the entire value chain of the diamond industry. A delegation from Angola has been invited to visit Dubai to formalise the framework for future initiatives between both governments. During the Dubai delegation's visit to Angola, the executives also held meetings with the Ministry of Mines, and Endiama, the Angolan Mining and Trading Authority. "In this era of globalisation, the increasing economic integration between the Middle East and Africa is important for our shared growth," said Ahmed Bin Sulayem. "The diamond trade between both regions, in particular, represents our complementary strengths. We hope to cooperate more closely to promote growth and transparency (1) The quality of being able to see through a material. The terms transparency and translucency are often used synonymously; however, transparent would technically mean "seeing through clear glass," while translucent would mean "seeing through frosted glass." See alpha blending. of the diamond trade and to create long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. sustainable benefits for both Angola and Dubai." He added: "Dubai has always been a friend and well-wisher of Angola. Our respective lands share a long-standing relationship built on a rich heritage of trade, commerce and cultural exchange. Our recent visit to Angola lays the foundation for further enhancing our relations with Angola, which is today the world's third largest producer of rough diamonds, producing diamonds worth around US$1.5 billion annually." During the visit to Angola, the DMCC delegation also highlighted its adherence adherence /ad·her·ence/ (ad-her´ens) the act or condition of sticking to something. immune adherence to the Kimberley Process Certification Scheme The Kimberley Process Certification Scheme (KPCS) is a process designed to certify the origin of diamonds from sources which are free of conflict.[1] The process was established in 2003 to prevent rebel groups and their rivals from financing their war aims from diamond (KPCS KPCS Kimberly Process Certification Scheme ), which authenticates ethically sourced diamonds. KPCS has recently opened its second Dubai office in Almas Tower This article contains information about a building currently under construction. It may contain information of a speculative nature, and the content may change dramatically as construction progresses and new information becomes available. , which is also the headquarters of DMCC. Peter Meeus, Chairman of Dubai Diamond Exchange, said: "Angola is DMCC's largest trading partner in rough diamonds. The diamond industry is by far the largest revenue generating sector of Angola, with diamond output constituting 95 per cent of the country's non-oil GDP GDP (guanosine diphosphate): see guanine. . It is also estimated that more than 60 per cent of the country is still yet to be explored. Together, these factors make Angola a significant market for global trade of diamonds through Dubai." Meeus added that Dubai is uniquely positioned to service the needs of the diamond sector in the wider region. The emirate e·mir·ate n. 1. The office of an emir. 2. The nation or territory ruled by an emir. Noun 1. emirate - the domain controlled by an emir has a robust infrastructure of ports, a well-connected transport system, open trade policies and a service-oriented approach. 2009 Al Bawaba (www.albawaba.com) 2009 Al Bawaba (Albawaba.com) Provided by Syndigate.info an Albawaba.com company |
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