Dubai's total trade of rough diamonds increased by 36% to reach $3.03bn at the end of the first six months of 2008, according to Dubai Diamond Exchange (DDE), a subsidiary of the Dubai Multi Commodities Centre (DMCC), WAM reported. During the first six months of 2008, rough diamond imports to the Emirate grew by 23% to reach $1.15bn from $937m, during the same period in 2007. This was mainly driven by high volumes imported from Angola (75%), and a 138% rise in imports from China. Exports in the first half of 2008 rose by 44% to reach a total of $1.88bn from $1.3bn, during the same period in 2007. Over 87% of Dubai's rough diamond exports were to the countries of the European Commission (EC) and India, while Dubai's exports to China increased by 950%. Angola, India, EC and China were the top diamond trade partners for Dubai, and jointly accounted for around 85% of total trade volumes. Ahmed Bin Sulayem, Executive Chairman, DMCC, and Deputy Chairman of DDE, said: "The continued surge in diamond trade is testament to Dubai's success in attracting traders from around the world. We have witnessed healthy growth in bilateral trade with various countries, reflecting the growing confidence in the trading infrastructure and opportunities offered by Dubai." Sulayem noted that earlier this year, DMCC signed significant MoUs with People's Government of Panyu District, China, and Gems and Jewellery Trade Association of China (GAC), for promotion of jewellery trade between both countries, with a special focus on diamonds and coloured stones.
