The Dubai Diamond Exchange, the largest diamond tender facility in the world, has announced the resumption of its headquarters and its readiness to host all regular activities and tenders in conjunction with easing the restrictions imposed in the emirate to combat the pandemic of the emerging Corona Virus "Covid-19".
And in the Dubai Multi Commodities Center, the world's leading free zone and the authority of the Dubai government that specializes in trade in goods and projects, the Dubai Diamond Exchange is located, which opened its doors after the application of all government instructions and protocols related to health and safety issued by the competent health authorities in the country.
Actions in this regard included measures to impose social separation as well as regular cleansing and sterilization operations to ensure a safe environment for both staff and visitors.
On this occasion, Ahmed bin Sulayem, Chief Executive Officer and CEO of DMCC, said: “Despite the continued slowdown in the global economy, we must continue to prepare for the recovery phase, especially as various business sectors have begun to resume their activities in conjunction with the gradual easing of restrictions Precaution and closings at the local and international levels, and therefore, we have made unremitting efforts to ensure the readiness of the Dubai Diamond Exchange to host tenders according to the highest safety standards, and we look forward to informing the market of the latest developments regarding its activities during the coming period. "
According to IDEX data, monthly polished diamond prices increased 0.6 percent in May, the highest rate since December 2018.
It is worth noting that the precious metals and gem trade sector is one of the most important sectors supporting efforts to diversify the national economy in UAE. In Dubai, gold, jewelery and diamond commodities topped the list of the highest traded commodities by value in 2019, with turnover of AED 370 billion, an increase of 7% compared to the previous year. The General Administration of Abu Dhabi Customs also revealed that the value of Abu Dhabi’s trade in precious metals and gemstones increased to 5.42 billion dirhams during the first quarter of 2020, an increase of 34.4% compared to 4.03 billion dirhams during the same period in 2019.