Panama: Ahmed bin Sulayem, Executive Chairman of the Dubai Multi Commodities Center (DMCC), was honored last week in Panama City, when he was presented Honorary Membership of the World Jewelry Hub (WJH) by its Chairman Mr. Eli Izhakoff.

Mr. Bin Sulayem, who also is the current Chairman of the Kimberley Process, was on a visit to Panama as a guest of the World Jewelry Hub. During the visit, he witnessed firsthand the fast-developing Latin American diamond, gemstone and jewelry trade center, met with the leadership of the Panama Diamond Exchange (PDE) and discussed ways of increasing cooperation between the WJH and DMCC.

Mr. Bin Sulayem also met with Panama’s Minister of Commerce, Augusto Arosemena. They discussed current developments in the Kimberley Process, and the ways in which it could be enhanced in the Latin American markets.

“It is our privilege to welcome Ahmed bin Sulayem, and to benefit from the perspective of an industry leader who has played an essential role in the establishment of DMCC, which is the UAE’s largest and fastest growing free zone and home to more than 11,000 companies,” said Mr. Izhakoff. “Over the past 14 years, he and his team pioneered the development of a trading center in Dubai, handling multiple precious metals and gemstones, diamonds and jewelry. Their work has served both as a model and benchmark for what we are doing in Panama.”

Mr. Bin Sulayem thanked Mr. Izhakoff for his kind hospitality and for the privilege of being awarded Honorary WJH Membership. “I am very impressed with the caliber of the companies that are already established at the World Jewelry Hub.  It has all the elements necessary to become an important industry player and the world’s entry point to Latin America. Today Dubai is one of the most important diamond centers in the world. But I can say that, when we started, we faced challenges that were very similar to those faced by the WJH today,” he stated.