Russia-Dubai Working Group Established

The increasingly strong ties between diamond minder Alrosa and polished diamond manufacturer Smolensk Kristall look set to continue with the announcement that the two will represent Russia in the newly established Dubai Russia Diamond Working Group. The group has been established to facilitate and enhance the co-operation between the diamond industries in Russia and Dubai.

Dubai will be represented by senior management of the Dubai Metals and Commodities Centre (DMCC).

“The Russian diamond mining industry is on the lookout for opportunities to establish its presence in the growing markets of the Middle East and Gulf,” said Ahmed bin Sulayem, COO of DMCC commenting on the establishment of the Dubai Russia Diamond Working Group. “Senior representatives of the Russian diamond industry have explored the possibilities for mutual co-operation during their visit to Dubai. The Dubai Russia Diamond Working Group will lay the foundation for this collaboration with a special focus on the exchange of market information between Dubai and Russia”, he added.

The recent Russian delegation to Dubai to initiate discussions between the working group was headed by Alexander Nichiporuk, President of Alrosa.

Alrosa, who produces approximately 23 percent of the world's diamonds, is planning to start the sales of rough diamonds of both Russian and African origin in the near future to satisfy the growing demand from the regional diamond industry.