The Dubai Multi Comm-odities Centre (DMCC) and the Dubai Gold and Jewellery Group (DGJG) have signed an MoU aimed at giving an impetus to Dubai’s gold, diamonds and jewellery industry.

“The tie-up is the first public-private sector partner-ship of its kind and has been devised to launch a coordinated effort to grow the industry and promote it worldwide,” a statement said.
Present at the signing ceremony were Ahmed bin Sulayem, chief operating officer, DMCC, Tawheed Abdullah, managing director of DGJG, and KP Baiju, its general manager. 
“Contribution from both the public and private sectors is essential for the continuous and systematic development of any industry,” said Dr David Rutledge, CEO of DMCC. “DMCC’s primary role is to facilitate an investor-friendly environment that encourages the development of a healthy commodities market. We aim to work closely with the gold, diamond and jewellery traders represented by the gold and jewellery group to provide the necessary environment for growth in line with international best practices.”
The MoU would enable DGJG members to have a whole new platform to access opportunities created by DMCC, said Tawhid Abdullah, managing director, Dubai Gold and Jewellery Group
“Our members will now be able to derive better advantage of the products and services offered by DMCC and DDE. Without doubt this will help us to achieve more industry growth at all levels”
The two-way DMCC and DGJG tie-up is expected to focus on two key aspects of the gold, diamond and jewellery industry, which includes education and training and marketing and promotion.
According to the terms of the MoU, DMCC and DGJG intend to share their respective training calendars, in addition to jointly participating in and promoting gold, diamond and jewellery industry events, both internationally and in the UAE.
The DGJG will promote DMCC and its industry initiatives including Polygon DMCC, Dubai Gem Certi-fication, DGCX and other new initiatives among its members. In addition, it is expected to create a special membership category for DDE members within the group. The two organisations will also keep their members abreast of all new industry developments.
DMCC was created in 2002 as a strategic initiative of the Dubai Government to establish a commodity mar-ketplace in Dubai. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment.
The Dubai Gold and Jewellery Group is an association of more than 700 gold and jewellery outlets in Dubai.