Local News

DMCC, Diamond Bourse Of Italy Discuss Future Of Trade
(5 December 2019)

DMCC, the Government of Dubai Authority on commodities trade and enterprise, today announced details surrounding its latest campaign to boost international diamond trade through the Emirate of Dubai.

On 2nd December, in conjunction with attending the Milan Coffee Festival, Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, visited the Borsa Diamanti d’Italia (Diamond Bourse of Italy) in Milan to meet with its members and senior representatives of the Italian jewellery industry.

Having been invited to visit one the world’s oldest diamond exchanges during the Dubai Diamond Conference in Almas tower, Bin Sulayem, presented the senior management of Borsa Diamanti d’Itali with two exclusive gifts; the DMCC Gold Bullion Coins and a ‘Dubai Cut’ diamond – a unique design with 99 facets, created by DMCC in conjunction with the Dhamani Group. Certified by the GIA, it is the world's first diamond cut inspired and named after a city.

"Earlier this year, DMCC was delighted to host Borsa Diamanti d’Italia during the WFDB Presidents meetings in Almas Tower, Dubai. Meeting again in Milan forges our strong relationship and is a natural progression of our conversations regarding the challenges and opportunities in the diamond industry. We recognise the synergies shared between our markets and the Dubai Diamond Exchange stands ready to support where it can," said Bin Sulayem.

"I must thank the Borsa Diamanti D'Italia for the hospitality extended to my team during our time in Milan, as well as the enthusiasm on show from its members when celebrating UAE National Day with us," he added.

In September 2019, DMCC unveiled the redesigned and upgraded Dubai Diamond Exchange, DDE, auction facility, the world’s largest diamond trading floor located at the Almas Tower in Jumeirah Lakes Towers, Dubai, UAE. Both the DDE and Borsa Diamanti D'Italia are members of the World Federation of Diamond Bourses, WFDB.

Borsa Diamanti D'Italia was one of the first exchanges to vote for Dubai Diamond Exchange to become a member of the World Federation of Diamond Bourses.

"As long standing partners, the Borsa Diamanti D'Italia was delighted to host Mr. Ahmed Bin Sulayem and DMCC. It was fascinating for our members to learn more about the Dubai Diamond Exchange, and how the diamond trade in the UAE has grown so significantly in recent years. We look forward to working closely with DMCC going forward to ensure the Italian diamond industry can leverage the growing potential to do trade in, with and through Dubai," said Luigi Cosma, President of Borsa Diamanti D'Italia (Diamond Bourse of Italy).

"We are also honoured to now hold a ‘Dubai Cut’ diamond in our facilities, an exceptional stone which was gifted to us on the occasion of DMCC’s visit on the special occasion of the UAE National Day," he added.




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