DMCC has signed a Memorandum of Understanding (MoU) with the Guangzhou Diamond Exchange (GZDE), establishing a strategic partnership with one of China’s leading international diamond trading platforms and communities.
The agreement strengthens bilateral ties between the United Arab Emirates and the People’s Republic of China and creates new trading opportunities across the diamond industry. DMCC and GZDE will gain access to new markets as a result of the collaboration, and both parties have committed to cooperation promoting responsible business practices among their respective members.
“This agreement will further advance the strong and longstanding cultural and commercial ties that exist between the UAE and China, and extend our support to both the Dubai Silk Road strategy and One Belt One Road Initiative,” said Ahmed bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC and Chairman, Dubai Diamond Exchange.
“In this specially challenging but should-be-with-hope moment for the global industry, we are looking forward to closely cooperating with DMCC to introduce more business opportunities to the Chinese diamond industry and to explore and identify more sparkles for the Dubai diamond community, together with the global diamond society. This strategic document mandates us mission with vision,” said Liang Weizhang, President, Guangzhou Diamond Exchange.
China is one of DMCC’s key target markets and its business district already enjoys strong relationships with several Chinese entities. Last year, DMCC signed a similar agreement with the China Gems and Jade Exchange (CGJE) to connect buyers and sellers of gemstones and jade from the two countries.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
