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UAE seeks to lead global gold, diamond trade

UAE seeks to lead global gold, diamond trade
The UAE holds 60% of the world's tea re-exports

UAE - Mubasher: The UAE holds 60% of the world's tea re-exports, Sheikh Mohammed bin Rashid Al Maktoum, the UAE vice president, prime minister, and ruler of Dubai, announced on Thursday.

During his visit to the Dubai Multi Commodities Centre, Sheikh Mohammed bin Rashid said that the centre, specialised in the trade of gold, diamonds, tea, and coffee, is home to the world's top facilities for storing and processing coffee, with 9,500 tonnes of storage capacity per year.

The ruler of Dubai added that the UAE seeks to be the strongest in the world in the trade of gold, diamonds and multiple commodities. 

It is noteworthy to mention that on 6 July, the Dubai Gold and Commodities Exchange (DGCX) will issue its first FX Rolling Futures contracts of Euro (EUR), Pound Sterling (GBP), and Australian Dollar (AUD) against the US Dollar to expand its currency portfolio.