Sunday 8 April 2012

Dubai's dazzling rise as a diamond centre - The National

Shoppers in the Emirates cannot seem to get their fill of bling. Ahmed bin Sulayem, the executive chairman of the Dubai Multi Commodities Centre (DMCC), discusses what it took for Dubai to rise as a global diamond trading hub, doing about US$40 billion (Dh146.92bn) of business last year.

Give us an idea of Dubai's growth in the diamond trading business.

The DMCC story started in 2002. Before the establishment of the DMCC, the diamond trade in Dubai was worth around US$2 [million] to$3m … and we expect the numbers that come out of 2011 might well be over $40bn. And you are talking about an initiative that did not even start 10 years back.

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