Gold jewellery consumption in the UAE is estimated at $2.5 billion annually, making it one of the top five countries in the world among China, India, the US and Russia, said the hosts of an upcoming jewellery forum in Dubai.

Dubai commands around 30 per cent of the luxury marketing in the Middle East and around 60 per cent of the UAE’s luxury market, added Dubai Multi Commodities Centre (DMCC), which will host the inaugural Middle East Gems and Jewellery Forum (MEGJF) on November 9 at Almas Tower.

Sheikh Ahmed Bin Saeed Al Maktoum, president of the Department of Civil Aviation, CEO and chairman of The Emirates Group and Chairman of Dubai World will be the guest of honour at the event, which will also welcome key industry players, traders and suppliers from across the globe.

“With Dubai being one of the world’s top three trading hubs for gold, diamonds and gemstones, and the UAE the number one jewellery consuming nation in the Middle East, the first DMCC Middle East Gems and Jewellery Forum is perfectly positioned to provide a regional platform for dialogue and collaboration on the coloured stones and jewellery industry,” said Ahmed Bin Sulayem, executive chairman, DMCC.

“DMCC’s new initiative enables industry leaders and experts to share experiences and discuss ways to further capitalise on Dubai’s ideal location between the producing and consuming nations as well as the tremendous growth potential in the region and beyond.”

The MEGJF 2014 is set to welcome over 250 delegates and partners including title sponsor Gemfields, the world's leading producer of ethically-sourced rare coloured gemstones. – TradeArabia News Service