The Dubai Multi Commodities Centre has signed an agreement with the International Colored Gemstone Association to establish ICA GemBureau Middle East, a Dubai-based dedicated facility designed to meet the needs of ICA members and trade representatives, including those based in the Middle East and overseas.

The agreement was signed Wednesday by Andrew Cody, ICA president, and Gaiti Rabbani, executive director, Colored Stones and Pearls at DMCC.

ICA, a non-profit trade association that represents the international coloured gemstone industry, has more than 500 members in 46 countries. The Coloured Stones and Pearls division at DMCC works closely with members of the trade to implement initiatives designed to develop these sectors, and grow the value and volume of trade in coloured gemstones. Earlier this year, in a sign of the increasing importance of Dubai to the international coloured gemstones trade, ICA held its 12th Biennial Congress in the emirate.

As part of its continuing effort to support the colored stones industry, the ICA partners with industry bodies and organizations worldwide to set up Gem Bureaus, which provide ICA members with information, knowledge and expertise about coloured gemstones. The proposed Dubai-based ICA GemBureau Middle East will complement existing bureaus to offer comprehensive services to ICA members worldwide. In addition to its headquarters in New York, ICA bureaus are operational in Germany to service the Europe-based members and Thailand to service Asia.

Specifically established to service the region, GemBureau Middle East will be the representative office for ICA in the Middle East. It will serve as the central point of access for all matters related to the organisation, and will provide a broad range of resources for ICA members.

“We recognise that the region is growing significantly in importance for the gemstone industry,” Cody said. “The opening of the dedicated Middle East GemBureau in Dubai will provide important infrastructure to support the colored stones trade, contribute to the growth of the region and foster increased cooperation within the ICA.”

He continued, “The Centre brings along a wealth of expertise in facilitating the commodities trade and also represents the height of local industry expertise in colored stones. The strong support that DMCC provides as an initiative of the Government of Dubai also adds greatly to the credibility and integrity of the venture, making it the natural choice for a partner.”

The GemBureau Middle East will offer ICA members fully equipped business center facilities, qualified administrative staff, and promotional support to conduct GemBureau activities. Open to all ICA members and members of the regional and international gems trade, GemBureau Middle East will host ICA member and board meetings, and will be the centralised point of access in the region for all matters related to ICA. It will also represent the association at trade shows and industry events.

JCK