ICA to organize Gem Fair Dubai 2008

The International Colored Gemstone Association (ICA) will launch the ICA International Gem Fair Dubai 2008, to be held under the patronage of the Dubai Multi Commodities Centre (DMCC) and supported by the ICA GemBureau Middle East. The show, which will be the region’s first-ever dedicated colored stones trade fair, will be held in Dubai from October 13-15, 2008.

This three-day event is expected to attract a diverse range of participants from across the value chain of the global colored stones industry, including manufacturers, providers of technical instruments and others, serving as a networking platform for traders and allied service providers. Over 150 exhibitors from the Middle East, Thailand, India, China, Hong Kong, Brazil, Australia, USA, Germany and Japan are expected at to participate.

ICA is a non-profit trade association, representing the international colored gemstone industry in 46 countries worldwide. With over 500 members, ICA partners with industry bodies and organizations to foster growth and networking opportunities in the colored stones industry.

Mr. Andrew Cody, President of the ICA, said that Dubai has established itself as a prominent international center for the precious commodities trade. The emirate’s geographical advantage located amidst international trade flows, ease of doing business and the government of Dubai’s commitment to playing a crucial in role in boosting the commodity trade, make it a natural choice for a dedicated trade fair. Capitalizing on Dubai’s established and prospering retail jewelry industry, we are confident that the ICA International Gem Fair will evolve into an important highlight in the calendar of the global colored stones industry.

DMCC is extremely pleased to partner with ICA and provide support to this significant B2B event, which will attract colored stones traders of global repute to Dubai, further raising the emirate’s prominence in this high-growth sector, said Ms. Gaiti Rabbani, Executive Director, Colored Stones and Pearls division, DMCC. More importantly, the ICA Gem Fair will effectively fill the gap in the current product offering for the regional trade, and will enable the growth of the physical trade in colored gemstones in Dubai.

DMCC launched its own dedicated Colored Stones and Pearls division last year not only to complement its existing commodities portfolio but also to capitalize upon what we believed to be a strong growth sector. The outlook for the colored stones trade has never been brighter - and this event will help shine the global spotlight on the business opportunities across the Middle East and here in Dubai, said Ms Rabbani.

Last year, DMCC supported ICA in establishing a Middle East ICA GemBureau to provide infrastructure, knowledge, expertise and a broad range of resource support services for ICA members across the world. Together, with groundbreaking initiatives such as the ICA International Gem Fair Dubai 2008, we will continue to grow the value and volume of the colored stones trade, she added.

Expected to become the leading networking forum for the colored stones business, the ICA International Gem Fair will bring together the essence of the industry. It will include participation from members of the ICA, DMCC and the Dubai Gems Club, in addition to country specific representation from key colored stone producing countries worldwide, thus ensuring that the event is accessible only to ethical gem traders.

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