DMCC in talks with China, Canada firms to double gold trade

The Dubai Multi Commodities Centre (DMCC) is currently working with companies in China, Costa Rica and Canada to achieve its target ensuring that 50 per cent of the gold produced internationally is transhipped through it every year.

Serious talks are going on with companies in China, the largest producer of gold in the world. DMCC authorities are looking forward to importing gold mined in China and exporting the refined metal to meet a strong demand for jewellery in China.

"DMCC is actively engaged with China to boost gold trade flows between the two countries. We are in discussions with major Chinese Government entities [including an association of gold miners, refineries and other companies] to find ways to encourage greater co-operation," said Harendra Kailath, Director (Gold and Precious Metals) at DMCC.