Dubai Multi Commodities Centre and the Thai Gem & Jewelry Traders Association signed an agreement Wednesday, making TGJTA the first affiliate member of the Dubai Gems Club, a strategic initiative of the Coloured Stones and Pearls Division at DMCC.

This agreement will boost trade opportunities between Dubai and Thailand, both fast-emerging markets for gems and colored stones, the DMCC said in a statement. Thailand, a major global gem trading and processing center, is the second largest exporter of gems and jewelry in the world with annual exports over more than $2 billion.

Under the terms of the agreement, TGJTA members will have access to DGC’s network of local and international markets. In addition, as an affiliate member, TGJTA will have access to the dedicated trading facilities of the Dubai Gems Club located at Almas Tower. DMCC serves as an international hub bridging gemstone producing and consuming countries, and helps the trade of colored stones through Dubai via the Dubai Gems Club.

“We strongly feel that the colored stones industry needs a unified and comprehensive marketing strategy that will drive demand across the emerging consumer markets,” said Gaiti Rabbani, executive director of the Coloured Stones and Pearls Division, DMCC. “DMCC’s affiliation with TGJTA will offer Thailand’s colored stones community a dedicated platform to further boost their trade, and will in turn positively impact the entire value chain of the colored stones industry.”

JCK