The Dubai Jewellery Group has signed a memorandum of understanding with the Gold Association of Guangdong Province to ease market access for member companies in Dubai and in Mainland China, Hong Kong and Macao, the Government of Dubai Media Office said on Sunday.
Tawhid Abdullah, chairman of the Dubai Jewellery Group, signed the agreement with Ye Yongguang, vice president of the Guangdong association, on behalf of its president, Zhen Weigang.
The signing took place at the Dubai Business Forum China, which Dubai Chambers held in Shenzhen.
The Dubai Jewellery Group was established in 1996 and has about 600 member companies. They cover bullion and precious metals trading, gold and diamond jewelry manufacturing, wholesale and retail, and diamond and pearl trading.
The memorandum aims to draw on Guangdong’s manufacturing and processing base to support jewelry production and trade in Dubai.
It covers the supply of raw materials, including precious metals, diamonds and gemstones, as well as manufacturing, processing, distribution and trade facilitation.
The two sides will share information on customs procedures, bonded and temporary import regimes, logistics, insurance and compliance.
They will also explore ways to facilitate trade in precious metals, diamonds, gemstones, jade and other jewelry products from Dubai to Mainland China, Hong Kong and Macao.
The agreement provides for reciprocal trade delegations and joint participation in exhibitions and trade missions. It also covers support for Chinese member companies promoting their products in international markets.
“This MoU strategically bridges Dubai’s market advantages with Guangdong’s manufacturing prowess and innovation, creating new opportunities for cooperation,” Abdullah said.
The Gold Association of Guangdong Province was established in 1994. Its members work in geological exploration, mining and metallurgy, research, design and education, and jewelry and precious metals processing and marketing.
