UAE emerging as world’s most integrated global gold marketplace

UAE emerging as world’s most integrated global gold marketplace

Gold trade accounts for more than 29 per cent of the UAE’s total national non-oil exports and that it has a major share in the country's foreign trade activities.

The UAE, which accounts for more than 25 per cent of the global gold trade, is all set to become the most integrated global gold marketplace, according to speakers at the Global Gold Convention 2022.

Addressing delegates from more than 100 countries, Humaid Ben Salem, chairman of International Chamber of Commerce (ICC UAE) and secretary-general of Federation of UAE Chambers of Commerce and Industry, said the gold industry is vital to the UAE economy and the country is all set to become the most integrated marketplace.

“”The UAE is truly making this happen by providing all support to the global gold industry players, investors and traders as part of its non-oil sector diversification programme. This Convention has succeeded in bringing all stakeholders in a single platform which helps in connecting to the world and facilitating investments, joint venture deals, collaborations and regulatory measures,” Salem said in his keynote address.

According to official data, gold trade accounts for more than 29 per cent of the UAE’s total national non-oil exports and that it has a major