DMCC, world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise has hosted its flagship Dubai Diamond Conference (DDC).
The conference was held under the theme “The Future of Diamonds”.
In his opening remarks, Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, announced that the UAE reached the top spot globally as a rough diamond hub, trading over USD 22.8 billion worth of rough diamonds in 2021.
The country’s polished segment continues to grow at pace, closing in on the current market leader.
Since 2015, the UAE has increased its rough diamonds trade by 76%, overtaking Belgium as the world’s leading rough trade hub.
The total diamond trade in the UAE grew by 83% between 2020 and 2021, demonstrating both the industry’s resilience and Dubai’s critical role in the global sector.
Dubai boasts direct flights to other diamond hubs across the world, including mining countries in Africa and manufacturing centres in India, resulting in a connected supply chain with Dubai at its centre. Additionally, Dubai is home to the two Kimberly Process (KP) offices in the UAE, making the emirate the only entry point for rough diamonds in the country.
