Dubai Multi Commodities Centre (DMCC), announced today the signing of a memorandum of understanding (MoU) with the Gems & Jewellery Trade Association of China (GAC), a national association of the gems and jewellery trade, approved by the Ministry of Civil Affairs of Peoples Republic of China (PRC), for increased cooperation towards the mutual growth and promotion of diamond and jewellery trade between both countries.
 
The MoU was signed at bilateral meetings held alongside the annual gathering of the World Federation of Diamond Bourses (WFDB), currently being held in Shanghai. International Diamond Laboratories (IDL), an initiative of the DMCC, also signed a separate MoU with GAC for the possible establishment of a joint functional gemmological service centre in the People’s Republic of China.

The MoUs were built on the recent visit to China by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai to further strengthen the relationship between the two countries. They are also a natural corollary to a similar agreement signed recently between DMCC and the Government of Panyu, China.
 
Speaking on the sidelines of the signing ceremony, Zhang Peili, Administrative Vice-President of the 4th GAC Council of the GAC, said: “The MoU with DMCC signifies yet another landmark achievement for China and Dubai in forging long-term bilateral trade ties. As two leading jewellery centres of the world, this arrangement will provide a platform for knowledge exchange and increased jewellery trade opportunities between both markets.

Ahmed bin Sulayem, Executive Chairman, DMCC, said: “We have witnessed increased bilateral trade activity following the recent visit to China by His Highness Sheikh Mohammed Bin Rashid Al Maktoum. As a strong advocate of Dubai Government initiatives, we are confident that our partnership with GAC will further add value and boost diamond trade activities between our markets. This agreement will also help our members explore new business avenues in the fast-growing Chinese market.”

Under the terms of the MoU, DMCC will actively promote the Chinese jewellery market to DMCC member companies. In turn, GAC will support the Dubai jewellery market in establishing a stronger presence in China. Both companies will exchange market expertise in diamond jewellery design, training, business opportunities and educational initiatives. In addition, GAC will promote the services and certificates offered by IDL The MoU also allows Chinese jewellery manufacturers to link with Dubai as a hub to market their products to the wider Middle East.

In addition to the possibility of establishing a joint functional gemmological service centre in China, IDL and GAC will also consider the feasibility of establishing a joint training centre to meet training needs of the growing diamond and jewellery market in the country and develop the skills needed to carry out successful diamond and jewellery activities.

i2 Obtains a Mobile Virtual Network Operator Services’ License in Jordan

Jordan, May XX, 2008: i2 announced that it has officially obtained an individual license that allows it to operate as a provider of (MVNO) services in Jordan, during a signing ceremony that took place at the Telecommunications Regulatory Commission premises in Jordan on May 11, 2008.

The signing ceremony was attended by Abdul Hameed Sunaid, CEO of i2 and Dr. Ahmad Hyasat, the Chief Commissioner of the Jordan Telecommunication Regulatory Commission.

Mobile Virtual Network Operator MVNO do not own a specific frequency allocation or the infrastructure for providing mobile telephone services. Nevertheless, they partner with existing Mobile Network Operators (MNO) to provide mobile telecom voice and data services to end users. Such agreements allow the MVNO to focus on Customer Care, Marketing and Sales instead of Technical and Network related issues.

“There are approximately 360 planned and operational MVNOs world-wide and we look forward to being the first virtual mobile provider in the region. By being granted the approval to operate as the sole MVNO in Jordan, we have achieved another key milestone in line with our objective plan. This step comes in harmony with our vision of integrating the mobile value chain and increasing our assets consisting of; distribution, logistics, retail network, brand and our solid relationship with Nokia. This will help us provide Top Class Customer Care Services, innovative offers and more diversified options to our clients.” said Abdul Hameed Al Sunaid, CEO of i2.

MVNO provides services for 8 to 20% of mobile subscribers globally, and It is projected that the MVNO in the Middle East will encompass between 5 to 8% of the subscribers’ database in the first five years generating a profit of $US 5 Billion for the same period.

Operating with the MVNO services in Jordan will open new dimensions of business for i2 and will definitely boost the telecommunication industry development in Jordan.

“At i2 we will turn the MVNO services into an outstanding and complete new experience for our customers offering quality, competitive prices and excellent packages.” concluded Al Sunaid.

The MVNO agreement will benefit the existing network mobile operator through increasing their revenue, optimizing their resources and speeding the execution of their business plan. On the other hand this agreement for i2 creates a challenging and a perfect opportunity allowing wide synergy between its various operations and businesses, as for the customer, it will provide an added value, a different range of services, experience and a broader choice of telecommunication suppliers. 

Through the MVNO, Jordan in particular and the region in general will enter another level of competition and liberalization in the Telecommunications industry. i2 is committed  to bringing more growth into the region and to improve the telecommunication scene within existing markets to ensure providing new services and solutions for its customers.

© 2008 Al Bawaba (www.albawaba.com)