Hong Kong, China and Dubai are coming together in an agreement which is being signed between the Dubai Multi Commodities Centre (DMCC) - the government-backed centre in Dubai, and the Hong Kong Gemstone Manufacturers' Association (HKGMA). The agreement is to build industry-specific trade relations for coloured stones and pearls.

According to HKGMA president Johnson Sin, “The Middle East is home to a young population, and increasing liquidity has meant that the region is fast becoming a huge consumer market for jewellery and gemstones”.

The pact deals with knowledge sharing of local market and expertise, along with executing joint marketing efforts through trade forums, exhibitions, seminars and jewellery events.

Gaiti Rabbani, the executive director of DMCC’s coloured stones & pearls division said, “Middle East, China, Hong Kong and Thailand are emerging economies with a strong trade in coloured stones and pearls. Together, the DMCC and HKGMA cover these important centres of gemstone production and consumption.”