As many as 33 countries from around the world, including Israel, have now pledged their participation at the forthcoming Global Gold Convention 2020 to identify and forge new trade solutions with the UAE - underscoring the future of the nation as the next Global Gold Trade Hub.  

 

Hosted by IBMC International, GGC2020 will now be co-organised with the International Chamber of Commerce UAE (ICC UAE) and the Federation of UAE Chambers of Commerce & Industry (UAE Chambers) to anchor in the intercontinental significance of the Convention. 

 

Humaid Ben Salem, Chairman - International Chamber of Commerce (ICC UAE) Secretary General - Federation of UAE Chambers of Commerce & Industry (UAE Chambers), said: “Gold trade is a truly global market and for supporting global trade in any commodity, the UAE already has reliable trading centres aspiring to the highest international standards of operations and governance.  The United Arab Emirates continues to advance as one of the fastest growing trade hubs in the World.  Despite the challenges of the COVID-19 pandemic the UAE has continued to facilitate global trade and played a huge part in keeping supply chains open in all commodities, including gold.

 

The International Chamber of Commerce as a global rule making body for international trade & finance will continue to play its part in promoting cross border trade, investments and development.   The ICC UAE has recently been acknowledged as one of the leading ICC National Committees in the World.    The ICC UAE is pleased to be part of this “Golden Event” which is so important in the realm of international trade and finance.” Ben Salem added.

 

The GCC’s largest Global Gold Convention is still slated to be held in Dubai on November 23, 2020 at Armani, Burj Khalifa, with participation by diplomats and industry leaders across multiple verticals within the gold industry.

 

Attendees will be privy to nine landmark industry panels and discussions. These include, Radical Innovations in Gold, Entering the Gold Sector as a Non-Oil Diversification Strategy, Newfound Frontiers and Partnerships with Israel, The Future of the UAE as a Global Gold Trade Hub during volatile economic scenario, and more. 

 

The event’s objective is to underscore the future of the nation as the next, potential, Global Gold Trade Hub.  

 

Sheikh Khalid Bin Ahmed Al Hamed, Chairman of IBMC UAE added: “The overwhelming response to participation by the global organisations and more countries shows the confidence level of the international community in the UAE’s potential to be the global gold trade hub.”

 

Lastly, the conference will see the announcement of the recently launched US Digital Gold Stable Asset Currency - a state-of-the-art currency that marries stability with convenience, tethered to the American Eagle one-ounce gold coin minted by the US Mint.

 

USG holders can now benefit from keeping gold as an asset in a digital format as well as redeem it as a physical gold coin or in US dollars anywhere in the world. 

 

Sajith Kumar PK, Managing Director and CEO of IBMC, said: “Apart from the traditional gold business and investments, the convention will help participants to explore and utilize innovative and secured products and service opportunities from gold industry.  Post-Covid opportunities and supportive measures to GCC’s non-oil sector diversification programme by connecting international players through the convention will position the UAE as Global Gold Trade Hub.  

 

The convention will provide a platform for industry participants to explore business and investment opportunities with key stakeholders across all verticals and expand business and investments at home and beyond.”

 

The event is a testimony to the UAE economy’s resilience power and adaptability in the wake of the pandemic.--TradeArabia News Service