Jewellery consumption soars in Middle East
By Natasha Marrian, Staff Reporter
Dubai: The Middle East and China are emerging as the titans of jewellery consumption with a 10 per cent year-on-year surge in the two regions, the Dubai Multi Commodities Centre said.
In 2006-07 bilateral trade between the Middle East and China increased by 32 per cent. Non-oil trade between the two regions surged by 47 per cent, said executive director for diamonds at the DMCC, Peter Meeus.
The two regions are also the fastest growing in terms of jewellery consumption, positing “phenomenal” growth in both its private and public sectors, he said.
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