DMCC signed a Memorandum of Understanding (MoU) with Botswana’s Okavango Diamond Company (ODC) that will see the two parties work closely together to promote the diamond industries in the UAE and Botswana, and support the sustainable development of the industry.
The MoU was signed by Feryal Ahmadi, Chief Operating Officer of DMCC, and Mmetla Masire, Managing Director of ODC. The signing ceremony took place at Almas Tower, DMCC, on 14 March 2022 in the presence of senior DMCC executives and His Excellency Mokgweetsi Masisi, President of Botswana, along with an accompanying delegation of Ministers.
Ahmadi commented: “This partnership comes on the back of Dubai being announced as the largest trade hub for rough diamond in the world, which is a testament to its attractiveness as a business partner and a trade gateway to the world. As one of the world’s largest producers of diamonds, Botswana is a key market for DMCC and its members, and I look forward to a fruitful partnership with the Okavango Diamond Company.”
Masire added: “I am thrilled that we are strengthening our relationship with DMCC and I am looking forward to working together to support the growth of our respective businesses, and to sharing our knowledge and expertise.”
The MoU will see DMCC host many ODC diamond auctions and viewings at the Dubai Diamond Exchange (DDE). The first auction is taking place this week, from 14-19 March, 2022.
DMCC and ODC have agreed to work together to advance the diamond industry in both the UAE and Botswana. Both parties will exchange information, analytical materials and forecasts on the prospects for the development of the global diamond market, while also supporting each other on all aspects relating to the application of the Kimberly Process.