News

DMCC COO Welcomes Angolan Minister of Mineral Resources to DMCC

September 11 2019
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Feryal Ahmadi, Chief Operating Officer, DMCC, hosted HE Diamantino Azevedo, the Angolan Minister of Mineral Resources and Oil, and a senior delegation from the Angolan Government today at Almas Tower.

During a tour of the company headquarters, the group, alongside members of the Dubai Diamond Exchange (DDE) board, discussed growing trade ties between Dubai and Angola, and in particular, DMCC’s position at the heart of the emirate’s growing status as a globally leading diamond trading hub. Trade of Angolan diamonds through Dubai last year alone stood at nearly one billion US dollars.

DMCC’s flagship event, the Dubai Diamond Conference was also discussed, as was the excitement building in the industry around the upcoming unveiling of the upgraded Dubai Diamond Exchange auction facility. During the meeting, His Excellency confirmed the interest of the Angolan Government in DDC, and the participation of Angola’s two largest diamond companies, Sodiam and Endiama.“

Dubai has aspirations of becoming the world’s largest diamond trading hub in a very short space of time. Developing Dubai’s relationship with Angola is essential to success – and DMCC has a huge role to play here,” said Feryal Ahmadi, Chief Operating Officer, DMCC on the sidelines of the meeting.

The visit coincides with the Angolan Government’s international trade mission, which seeks to attract foreign investment and promote five mining concessions available for public tender.  Starting in Luanda, Angola earlier this month, the group will visit Beijing, China and London, UK following Dubai.

In 2018, Africa had five of the world’s fastest-growing economies and the continent’s GDP is expected to double between 2015 and 2030. The UAE and Angola currently enjoy strong diplomatic ties, and have forged strong business connections across a variety of sectors including oil and gas, precious metals, agriculture and other major industries.