Industry News by Nemesis

Peter Meeus Leaving Dubai Diamond Exchange After 12 Years

October 18, 2017

 

After 12 years as Dubai Diamond Exchange (DDE) Chairman, Peter Meeus will be leaving the position as of January 1, he said this week at the Dubai Diamond Conference.

 

Dubai Multi Commodities Centre (DMCC) Executive Chairman Ahmed Bin Sulayem will replace Meeus. The DDE operates under the DMCC.

 

“I have been involved in the establishment of Dubai as a diamond trading hub since its inception," Meeus told IDEX Online. "From a mere $300 million [of diamond trading] to the $26 billion it has reached today has propelled it into a mature diamond center being in the top three of the world after Antwerp and Mumbai. My work is done and I can leave the further development now in the hands of the DMCC.

 

"Ahmed and myself decided to announce it at the Dubai Diamond Conference, an initiative which I started 15 years ago in Antwerp with the first Conference of the kind with former US Vice- President Al Gore. Before I leave on January 31, I will contribute to making sure in a collaborate effort with the entire trade that the VAT zero tariff on rough and polished diamonds can be agreed upon with the Federal Tax Authority of the UAE."

 

Meeus has also served as a special adviser on diamonds to the United Arab Emirates government for the past 12 years, a position that will also come to an end.

 

Source: Idex

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