UAE’s DMCC, International Coloured Gemstone Association to host ICA Annual Congress in Dubai

Dubai Multi Commodities Centre (DMCC) has signed an agreement with the International Coloured Gemstone Association (ICA) to hold the ICA Annual Congress 2023 in Dubai.

ICA is a non-profit organisation and a global body specifically created to benefit the coloured gemstone industry. It comprises over 500 gem industry leaders from mine to market, including miners, gem cutters, suppliers, retailers, trade associations, gemological laboratories, academia and museums.

Set to take place from February 15 to 17 next year, at DMCC’s Almas Conference Centre, the annual congress will see hundreds of gemstone industry leaders come together to share opportunities and address the challenges facing the industry to advance the coloured gemstones sector.

The congress follows JGT Dubai, which takes place in the Dubai World Trade Centre from February 12 to 14, 2023.

Clement Sabbagh, president of the International Coloured Gemstone Association said: “The ICA Congress is a unique event that brings together the most diverse and prestigious leaders in the coloured gemstone sector. With each Congress, ICA presents dynamic speakers, compelling panel presentations and opportunities for our incredibly diverse industry to come together as one and share ideas, seek avenues of collaboration, and challenge each other to explore pathways to strengthen and grow the coloured industry.”

Hosting the ICA Annual Congress in Dubai is part of DMCC’s broader efforts to enhance the global trade of precious stones. So far this year, DMCC has held four tenders of coloured gemstones at its Dubai Diamond Exchange (DDE), the world’s largest precious stone tender facility. The DDE creates ideal conditions for the trade of coloured gemstones, with its white crystal windows allowing potential buyers to examine and assess coloured stones without concerns related to tinted light.

Ahmed Bin Sulayem, executive chairman and CEO, DMCC, said: “Since we last partnered with ICA to hold their Annual Congress in 2007, DMCC has become a catalyst for global commodities trade. From a position of almost zero precious stones trade, we have built Dubai into one of the world’s leading diamond trade hubs. In the past few months alone we have witnessed one of the world’s purest pink diamonds, a record-breaking ruby and other rare stones grace the floor of our iconic Dubai Diamond Exchange as the world’s precious and coloured stones communities seek out DMCC to conduct their most essential business.

“DMCC’s star continues to rise and we have our sights firmly set on coloured gemstones, as part of diversifying our precious stones commodities range and building the next major hub for the sector worldwide. We are delighted therefore to once again be partnering with ICA, the world’s leading authority on coloured gemstones, to hold its Annual Congress 2022 in Dubai at this crucial moment for DMCC and the wider industry.”

In other news, DMCC announced that it has recorded a twofold rise in the number of Chinese companies in its free zone in the past five years.

Read: Dubai’s DMCC records twofold rise in Chinese companies over last five years