DUBAI, 5th October, 2023 (WAM) -- Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has successfully coordinated more than 160 B2B meetings for 11 companies from Dubai as part of its recent trade mission to participate in the prestigious Jewellery & Gem WORLD Hong Kong show.
Hosted at the Hong Kong Convention and Exhibition Centre, the event is the world's biggest jewellery exhibition and attracted over 3,000 suppliers from more than 50 countries.
The prestigious global gathering also featured an extensive programme of events aimed at recognising the industry's top performers.
The trade mission was organised as part of the 'New Horizons' initiative, a programme spearheaded by Dubai International Chamber to drive the international expansion of Dubai-based businesses in priority markets while promoting the emirate as a thriving global hub for business, trade, and investments.
Dubai International Chamber's delegation included leading jewellery wholesalers, retailers, manufacturers, bullion dealers, and loose diamond and gemstone traders, together with senior representatives from Dubai Chambers. The chamber's booth at the exhibition attracted a significant number of visitors and provided participating companies with a space to showcase their products and conduct productive bilateral business meetings.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: "Dubai Chambers remains committed to supporting its members on their global expansion journeys into key markets around the world. We offer strategic insights and guidance to ensure our members are ready to access new markets and maximise opportunities for success. Our objectives are met when we see their business grow and prosper. The 'New Horizons' initiative comes as part of our drive to boost non-oil foreign trade to AED 2 trillion by 2026, in line with the emirate's five-year foreign trade plan."
In 2021, a study by Dubai Chambers identified 26 key product sectors with around US$ 10 billion in untapped opportunities. Jewellery was highlighted as one of the top potential growth areas for exports, with an estimated annual export gap of US$ 6.6 billion. T
he Hong Kong market has the highest untapped potential for jewellery exports at US$ 1.5 billion. The UAE currently exports jewellery with a value of around US$ 1.1 billion to Hong Kong each year.