The Dubai Multi Commodities Centre (DMCC) has announced that it has received an enthusiastic response to the inaugural Middle East-China Diamond and Jewelry Summit (MECDJS). Over 500 diamond traders and retailers have confirmed their participation in the summit, which is set to take place at the Atlantis Hotel, Dubai on Nov. 8-9. The diamond trade in the UAE witnessed record growth in 2007, crossing the $10 billion mark. Dubai's rough diamond trade alone witnessed 32 per cent growth in the first quarter of 2008 compared to 2007, standing at a total of $1.5 billion while the polished diamond trade reached $2.7 billion. The Chinese jewelry industry has also achieved record sales in 2007, with growth of 11 percent reaching over $26 billion. According to Ahmed bin Sulayem, executive chairman, DMCC: “The global financial crisis is forcing companies to explore new markets and opportunities, with a shift towards emerging economies in the Middle East, Asia and Africa.” __
