Sharjah – MENA Herald: HE Abdullah bin Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), called upon the international companies exhibiting at the MidEast Watch & Jewellery show to consider the Emirate of Sharjah as a base for their business. He invited international businesses to take the advantage of the integrated economic components, the ideal facilities, and the state of the art infrastructure available in the Emirate.
The statement was made during a luncheon hosted by the SCCI, in the presence of HE Khalid bin Butti Al Hajiri, Director General of the SCCI, HE Saif Mohamed Al Midfa, CEO, Expo Centre Sharjah, and a number of the SCCI board members, alongside a group of key exhibitors. The 41st edition of the MidEast Watch & Jewellery show is taking place at the Expo Centre Sharjah till October 1st.
Al Owais added that the Emirate of Sharjah offers an ideal destination for regional and international companies, due to its strategic geographical location, state of the art logistic facilities, robust regulatory framework and attractive incentives to investors and business owners.
HE Saif Mohamed Al Midfa, CEO, Expo Centre Sharjah, said: “The 41st MidEast Watch & Jewellery show is a major annual event on the agenda of the international retail community and It reflects the Emirate’s proven track record of success in organizing high profile international events. This success is mainly attributed to the vision of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah”.
The MidEast Watch & Jewellery show attracted a large crowd of visitors in the first two days of exhibition, as people have been well-informed about the show’s exclusive events such as the launch of the latest collection of gold, jewellery, watches and luxury items by renowned international brands.
Euromonitor International, the world leading market research firm, said it is most likely that consumers will seek to leverage from the fall in gold price and the soaring competition in gold industry, while jewellery and luxury item manufacturers will continue to perform well, and will offer more competitive prices, especially as the consumers have become better informed about these products.
The market intelligence firm added that in response to soaring competition, the major gold and jewellery manufacturers in the UAE, who are reputed in terms of quality and producing traditionally inspired items, have been seeking new strategies that proved effectiveness in other markets, such as the customer loyalty programs, the long term payment option, offering free gold coins with the big purchases and buyback guarantee. Some retailers have cut the manufacturing costs, particularly in the 22k gold purchases.
On the sidelines of the 41st MidEast Watch & Jewellery show, the Gemological Institute of America (GIA), a nonprofit institute dedicated to research and education in the field of gemology and the jewelry art, organized a seminar titled “Diamonds- are they Forever?. The four C’s: cut, color, clarity and carat weight of the diamond were explained during the seminar. Attendees were able to take valuable advices and instructions, such as tips on caring for diamonds and make them shine, GIA also offers free of charge consultation on diamond clarity to all the visitors throughout the five days of the show.