The 7th edition the annual Dubai Precious Metals Conference (DPMC) with more than 300 participants listing as speakers and panellists from the precious metals sector discussed issues and opportunities critical to the future of the worldwide trade on 9 April, at The Westin Hotel, Habtoor City, Business Bay, says a press note from DMCC

The first panel of the day on 'The Evolution and Impact of Taxation on Gold'. Panellist Chandu Siroya Vice Chairman, DGLG, said: "A lot of companies didn't sell for the first 20 days after the VAT came in, and only later got back to selling. The unique structure of Dubai where 85% of gold jewellery is for export, means it is creating uncertainty."

The next panel debate focussed on Responsible Sourcing.

Speaking remotely to the audience via video link, Tyler Gillard, Manager of Sector Projects, Responsible Business Conduct Unit, Investment Division at OECD said:"Investors, as well as banks, are increasingly expecting to see evidence of responsible sourcing before doing any business with clients. Consumers are demanding it."

Ahmed Bin Sulayem, Executive Chairman, DMCC, bringing the conference to a close, said: "Dubai is the world's leading physical gold market and one of the world's top three hubs for the diamond trade. This position is not achieved in isolation, it is by working alongside the industry, listening to business and engaging with stakeholders across the globe."

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Armenian Jewellers Association | Since 1998
Armenian Jewellers Association | Since 1998