Thursday, 24th April 2008 (960 views)

Government-backed trade group the Dubai Multi Commodities Centre (DMCC) has reportedly signed a memo of understanding with the People's Government of Panyu district in China to create a new partnership for the mutual promotion of each country's jewellery trades.

United Arab Emirates (UAE) newspaper Al Bawaba reports that the deal aims to bring the two nations closer together, while increasing jewellery sales and the exchange of industry knowledge.

Panyu, which is located in Guangdong province in south-east China, currently accounts for a fifth of the country's gold and inlaid jewellery exports. Around 70,000 people in the district are employed in the jewellery trade.

Under the agreement, DMCC and Chinese officials will promote each other's jewellery exports, while also sharing expertise on issues such as jewellery design, training, business and education.

The move follows a recent visit to China by the ruler of Dubai, Sheikh Mohammed Bin Rashid Al Maktoum, in an effort to promote better diplomatic and cultural relations.

As part of the DMCC-Panyu agreement, youth exchange programmes will be set up between the two countries, as well as arts and music delegations.

DMCC was established by the Dubai government to create a market for commodities in the emirate by supporting the gold, diamond, energy and other commodity industries.

 

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