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Tuesday, 13th December 2005 (4411 views)

The Dubai Metals and Commodities Centre (DMCC) has boosted its diamond and jewellery electronic trading capabilities by partnering with e-business solutions outfit Mediagrif Interactive Technologies.

The two have set up a joint venture, enabling Mediagrif to expand its Polygon diamond and jewellery network in the Middle East, India, Asia and Africa.

Mediagrif will leverage the DMCC's infrastructure, while the partnership will allow DMCC to draw on the skills of one of the globe's top online trading outfits.

"DMCC is affiliating with the very top players in their fields. In the case of online trading in the diamond industry, that means Polygon," said DMCC CEO Dr David Rutledge.

"Clearly, what we are doing in Dubai, with the creation of the market-specific infrastructure, the free trade zone, and the Diamond Exchange needs to include an online component for global trading in the 21st century."

The partnership marks a leap forward in the DMCC's aim to establish a thriving commodity marketplace in Dubai.

Providing infrastructure for the industries of gold, precious metals, diamonds, coloured stones and commodities, the organisation was set up by Dubai's government in 2002.

 

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