WJH to strengthen cooperation with Dubai Multi Commodities Center 26.02.2016: Photo caption: Eli Izhakoff (left), Chairman of the WJH, and Ahmed bin Sulayem,

 Photo caption: Eli Izhakoff (left), Chairman of the WJH, and Ahmed bin Sulayem, Executive Chairman of the DMCC and Chairman of the Kimberley Process, shaking hands after signing the MOU between the two centers.


In February we welcomed Ahmed bin Sulayem, Executive Chairman of the Dubai Multi Commodities Center, to the World Jewelry Hub. For all of us it was an enlightening encounter, because in many respects the DMCC has already traveled a journey that we are just beginning in Panama.


Starting from the ground up in Arabian Gulf in 2002, it came to be one of the most dynamic players in the industry, and is today the largest and fastest growing free zone in the United Arab Emirates and home to more than 11,000 companies
 

Mr Bin Sulayem also is the current Chairman of the Kimberley Process, and during his trip met with Panama's Minister of Commerce, Augusto Arosemena, to discuss developments in the Kimberley Process, and the ways in which it could be enhanced in the Latin American markets.


A highlight of the visit was the signing of Memorandum of Understanding (MOU) between the WJH and DMCC, which will serve as a framework for future cooperation between our two centers.
 


Ahmed bin Sulayem (left) Executive Chairman of the DMCC and  Chairman of the Kimberley Process, being presented Honorary Memberhip in the World Jewelry Hub by its chairman Eli Izhakoff.



The potential for synergies between Dubai and Panama City is a tremendous, with the DMCC having established itself as a center for the jewelry trade not only in the Middle East, but also in Central Asia, the Indian subcontinent and Africa, and with the World Jewelry Hub poised to become the primary springboard to the markets in South America, Central America, Mexico and the Caribbean.
 

In comments he made during his stay, Mr Bin Sulayem drew parallels about what is developing in Panama and what was done in Dubai. The World Jewelry Hub, he said, has all the elements necessary to become an important industry player. "Today Dubai is one of the most important diamond centers in the world. But I can say that, when we started, we faced challenges that were very similar to those faced by the WJH today," he stated.



Photo caption:  Panama's Minister of Commerce Augusto Arosemena (center), flanked, from left,  by  Ali Pastorini,  Vice President of the World Jewelry Hub; Mahesh Khemlani, President of the Panama Diamond Exchange; Ahmed bin Sulayem, Executive Chairman of the Dubai Multi Commodities Center and Chairman of the Kimberley Process; Eli Izhakoff, Chairman of the World Jewelry Hub; Diego Vallarino, Vice President of Real Estate Development for Grupo Verdeazul; and Jaime Sanchez, advisor to the Minister of the Commerce.


In respect of his accomplishments and those of the DMCC, Mr Bin Sulayem was awarded Honorary Membership of the World Jewelry Hub. In making the presentation I noted that over the past 14 years, he and his team pioneered the development of a trading center in Dubai, handling multiple precious metals and gemstones, diamonds and jewelry. Their work, I said, has served both as a model and benchmark for what we are doing in Panama. 



-WJH / PDE  also photos