Dubai Diamond Conference begins with record number of global experts

The Dubai Diamond Exchange, DDE, a Dubai Multi Commodities Centre, DMCC, platform, on Monday opened the third edition of its biennial two-day Dubai Diamond Conference, DDC 2017, under the theme ‘Shaping the Future of an Interconnected Marketplace.’ The conference, known for identifying the main issues impacting the global industry, is dealing with a rich agenda of subjects critical to the future of the diamond business worldwide.

Abdullah Al Saleh, Under-Secretary of Foreign Trade and Industry at the UAE Ministry of Economy, and DMCC’s Executive Chairman, Ahmed bin Sulayem, inaugurated the conference, welcoming top-level speakers and panellists from every sector of the diamond pipeline across the world.

"It is excellent to see that so many world-class experts have travelled from all over the world to attend the 3rd Dubai Diamond Conference. Dubai believes in the diamond industry’s potential to grow and we are committed to doing everything we can to support the industry," Al Saleh said.

Sulayem spoke about the critical role the conference has developed in taking stock of developments in the industry and providing pointers on how it should tackle challenges as it moves forward.

"Diamonds have long played an illustrious role in Dubai's heritage as a gateway for global trade and, in just 15 short years, Dubai has become the third biggest diamond trading centre in the world. It did not happen by accident. It happened because we designed an environment that is safe, business-friendly, and that conveniently links producing and consuming markets," he said.

Speaking of the future, Bin Sulayem set the agenda on the importance of connecting with and understanding millennials as recent research found that 37 percent of them claim to distrust big businesses and brands. "It is a different world and it goes beyond just advertising and marketing. What do we as an industry have to change to better appeal to this demographic? That is why I find that one of today’s panels, ‘How Diamonds Fit in the New Era of Millennials,’ will be especially important," he concluded.

Sir Mark Moody-Stuart, Chairman of the Global Compact Foundation, delivered a keynote speech on the United Nations Global Compact initiative and how the diamond industry can implement its Sustainable Development Goals to build a more just, more equitable and more sustainable future for all.

He was followed by Peter Meeus, Chairman of Dubai Diamond Exchange; Hon. Mosebenzi Joseph Zwane, Minister of Mineral Resources, Republic of South Africa; Paul Rowley, Executive Vice-President – Global Sightholder Sales; De Beers Group, Robert Owen-Jones; Kimberley Process Chair 2017; Ernest Blom, President, World Federation of Diamond Bourses; and Ste?phane Fischler, Acting President, World Diamond Council.

The first day of the conference tackled two major industry issues, ‘Uniting the Industry to Accelerate Initiatives Driving the Sustainable Development Agenda Forward,’ and ‘How Diamonds Fit in the New Era of Millennials.’