DMCC hosts first diamond auction from Botswana's Okavango Company
The Dubai Multi Commodities Center (DMCC), the free zone and authority of the Government of Dubai concerned with trade in goods and projects, announced the signing of a memorandum of understanding with the Botswana Okavango Diamond Company, to enhance cooperation between the two parties, to advance the capabilities of the diamond sector in the UAE and Botswana, and support sustainable development efforts in the global diamond sector. .
The MoU was signed at the Diamond Tower of DMCC by Faryal Ahmadi, Chief Operating Officer of DMCC, and Mmitla Masire, Managing Director of Okavango Diamond Company, in the presence of the President of Botswana, Mokgoetsi Masisi, and his accompanying delegation.
first auction
Under the agreement, the DMCC will host a number of diamond auctions and offers for the "Okavango" company at the Dubai Diamond Exchange, with the first auction scheduled to be launched this week from 14 to 19 March 2022.
The Center and Okavango agreed to cooperate in the development of the diamond sectors in the UAE and Botswana through the exchange of information, analytical materials, and prospects for the development of the global diamond market, as well as mutual support in all aspects of the applications of the "Kimberley Process" system.
sector development
"We are pleased to welcome President Masisi and look forward to collaborating with (Okavango Diamond Corporation) to advance the development of the global diamond sector," said Faryal Ahmadi, Chief Operating Officer of DMCC.
She added, "This agreement comes in light of Dubai's declaration as the largest rough diamond trading center in the world, which reflects its attractiveness as a distinguished partner and trade gateway to the whole world," noting that Botswana, as one of the largest diamond producers in the world, is an important market for the center and its members.
For his part, the managing director of Okavango Diamonds, Mmitla Masir, said that signing the agreement will strengthen the company's relationship with DMCC, adding: "I look forward to working together to support the growth of our business, and to share our knowledge and expertise."
the trade exchange
It is noteworthy that the past 10 years witnessed a significant increase in the volume of trade exchange between the UAE and Botswana to reach $1.3 billion in 2020. Last October also recorded several discussions on mining and trade between DMCC and the Minister of Mineral Resources, Green Technology and Energy Security of Botswana, Levuku Maxwell Mogi. .
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