Dubai, UAE; 22 February 2022: With more than 850 milion Euro worth of jewelry exported to the UAE every year, Italy is represented by 100 exhibiting companies at the first edition of Jewellery, Gem & Technology Dubai (JGT Dubai) that kicked off today at the Dubai World Trade Centre. Promising to be a high-energy three-day event, JGT Dubai will reconnect the global jewellery community following months of unrelenting challenges caused by the Pandemic.
The Middle East continues to rank among the world’s leading luxury markets and, within the region, the UAE represents the second important market with Euro 5 billion worth of jewellery items imported in 2020. 90% of the jewellery sold in the UAE comes from abroad and Italy is one of the main suppliers, thanks to its undoubted reputation for manufacturing pieces of high quality, combining innovative methods with artisanal craftmanship and offering exclusive and aspirational designs.
With 7.100 companies operating on the territory and over 30.000 employees, the Italian jewellery sector is very important for the national economy; despite the global economic slowdown caused by the pandemic, in 2020 Euro 5 billion worth of jewellery products were traded abroad, representing almost 1.5% of the overall country’s export. Italy has a very competitive position when compared to the rest of the world, it ranks as the sixth global exporter of jewellery with almost 5% of the global market share.
The Italian exhibitors at JGT are showcasing jewelry creations as well the most advanced technological solutions and machinery for the industry. Housed inside the Italy Pavilion in Hall 1 will be the Italian Jewellery Lounge; organized by the Italian Trade Agency and the Ministry of Foreign Affairs, the lounge will provide exhibitors and visitors with a comfortable area to meet and discover the best of the Made in Italy jewellery production.
Amedeo Scarpa, Italian Trade Commissioner to the UAE said, “We are glad to be part of the first edition of JGT and to contribute to the reboot of the sector. There is a renewed desire for Italian precious items in the UAE and we have built over the years a strong and enduring commercial relationship with this country.
Jewellery represents the most important product exported by Italy to the UAE. In 2021 we have seen an increase of about 118% compared to 2020 and + 11% compared to 2019 pre-pandemic time. Our market share has doubled up to 13% in a year and with more than 836 million of goods exported at November 2021 we are the 3rd global supplier of jewellery to the country.
We, the Italian Trade Agency, through our network offices, in this occasion, have invited a delegations of buyers from Algeria, Israel, Indonesia, India, Lebanon, Saudi Arabia, Egypt, Malaysia and Thailand. We created another great platform to connect with Italian companies, buyers who are sourcing jewellery, gemstones and related technologies.
We have been surprised to see how the jewellery market has regained confidence after the Pandemic, we still see a lot of potential for growth in the region and this is the right place to be.”
About Italian Trade Agency – ITA
The Italian Trade Agency is the Government agency which promotes the globalization of Italian firms, under the aegis of the Ministry of Foreign Affairs. ITA helps to develop, facilitate and promote Italian economic and trade relations with foreign countries, focusing on the needs of SMEs, their associations and partnerships. ITA sustains Italian firms in their internationalization process, promoting the marketing of Italian goods and services as well as the image of “Made in Italy” products around the world, while facilitating outward Italian investments and encouraging FDI attraction into Italy. ITA provides information, support and consultancy services to Italian companies on foreign markets, in order to foster exports and economic cooperation in all sectors, with the objective of increasing the effectiveness of their presence on international markets. ITA works closely with the Italian Regions, the network of Italian Chambers of Commerce, business organizations and other public and private entities. ITA’s headquarters are based in Rome and it works through a large network of offices around the world which are acknowledged as “Trade Promotion Offices” of the Embassies or Consulates of Italy. https://www.ice.it/en/markets/united-arab-emirates