From left: Prida Tiasuwan, ICA Vice President; Gaiti Rabbani, Executive Director, Coloured Stones and Pearls at DMCC; and Andrew Cody, President of the ICA.


ICA and DMCC to launch ICA GemBureau Middle East

 • ICA GemBureau Middle East to provide broad range of resources to ICA members

• ICA and DMCC sign agreement to set up dedicated Dubai-based facility
 
New York, November 29, 2007 - The International Colored Gemstone Association announced today that it has signed an agreement with the Dubai Multi Commodities Centre (DMCC) 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.  
 
ICA president Andrew Cody was in Dubai accompanied by ICA vice president Prida Tiasuwan for the official signing of the agreement with Gaiti Rabbani, Executive Director, Colored Stones and Pearls at DMCC.
 
As part of its continuing effort to support the colored stones industry, the ICA partners with industry bodies and organizations worldwide to set up GemBureaus, which provide ICA members with information, knowledge and expertise about colored gemstones. The proposed Dubai-based ICA GemBureau Middle East will effectively complement existing GemBureaus to offer comprehensive services to ICA members worldwide.  In addition to its headquarters in New York, ICA operates GemBureaus in Germany, Thailand, India, Japan and Korea.
 
ICA, a non-profit trade association that represents the international colored gemstone industry, has over 500 members in 46 countries worldwide. The Colored 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 colored gemstones. Earlier this year, in a sign of the increasing importance of Dubai to the international colored gemstones trade, ICA held its 12th biennial Congress in the emirate, which met with resounding success.
 
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 organization, and will provide a broad range of resources for ICA members.
 
“As the only global organization that works to increase the understanding, appreciation and sales of colored gemstones, we recognize that the region is growing significantly in importance for the gemstone industry. 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,” said Cody.
 
“We are pleased to be partnering with DMCC in this venture, since 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,” he added.
 
“Through initiatives such as GemBureau Middle East, DMCC continues to demonstrate its commitment to growing the colored gemstones trade,” said Rabbani. “The DMCC has a longstanding association with the ICA, and we look forward to strengthening our valuable relationship with the GemBureau initiative. Working together with the ICA, we will continue to encourage the continued growth of the colored gemstones sector here in Dubai and across the wider region. Indeed, the signing of this agreement with ICA marks another important step in the development of DMCC’s long-term strategy to make the emirate a hub for the global trade.”
 
The proposed 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 centralized point of access in the region for all matters related to ICA. It will also represent the association at relevant trade shows and industry events.
 
About ICA
The International Colored Gemstone Association, headquartered in New York City, is a non-profit trade association that represents the international colored gemstone industry, an extremely important and influential segment of the jewelry business. ICA has over 500 members in 46 countries worldwide.
 
About DMCC – Colored Stones and Pearls
The Dubai Multi Commodities Centre (DMCC), a strategic initiative of the Dubai Government to establish a commodity marketplace in Dubai, is committed to reviving the pearling tradition in the UAE, in addition to creating a significant platform for the colored gemstone trade. The DMCC established a dedicated Colored Stones and Pearls Division in 2007, to provide traders with the tools they need to continue to grow the market in addition to fostering relations with the international trade and developing industry services. The Current DMCC projects in the portfolio of the Colored Stones and Pearls Division include the Dubai Gems Club and the Dubai Pearl Exchange.

Photos available upon request.

For more information contact:

Barbara Lipatapanlop
Executive Director

International Colored Gemstone Association (ICA)
19 W. 21st St, Suite 705
New York, NY 10010
Tel: 1-212-620-0900
Fax: 1-212-352-9054
ica@gemstone.org
www.gemstone.org
The International Colored Gemstone Association, headquartered in New York City and operating additional "GemBureaus" in Idar-Oberstein and Dubai, is the nonprofit trade association that represents the international colored gemstone industry, an extremely important and influential segment of the jewelry business. ICA has over 500 members in 46 countries worldwide.