Shifting Diamond Centers Focus of Dubai Diamond Conference

DDE Chairman Peter Meeus

(IDEX Online News) – The global diamond centers are moving from Euro-U.S. centric to Asia-African centric, according to the Dubai Diamond Exchange (DDE), as it announced the inaugural Dubai Diamond Conference (DDC).

“The global diamond industry is going through a historic transformation, with the center of gravity shifting significantly eastwards to Africa, the Middle East, India and China,” said DDE chairman Peter Meeus. “Asia polishes, Africa has the rough diamonds, and Dubai has the trade links to both the producing countries in Africa and the major consumers in the Americas, Europe and Asia. “

Organizers say the two-day conference will provide an opportunity to build relationships between companies and governments in producing and consumer countries, with a focus on the role that the Middle East plays along the trade route for diamonds – also known as the “New Silk Route.”

Keynote speakers include Susan Shabangu, South Africa's minister of Mineral Resources; Dr. Obert Mpofu, Zimbabwe's minister of Mines and Mining Development; Prof. Dr. Francisco Queiroz, Angola's minister of Geology, Mines and Industry; and Isak Katali, Namibia's minister of Mines and Energy.

The Dubai Multi Commodities Centre- (DMCC) and DDE-hosted conference will take place at the Almas Tower on March 18 and 19.