Dubai: Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, delivered the keynote address at the 13th Dubai Precious Metals Conference (DPMC), emphasizing the impact of the UAE’s Comprehensive Economic Partnership Agreement (CEPA) programme and the nation’s robust regulatory framework on the global trade of gold and other precious metals.
According to Emirates News Agency, the DPMC serves as a critical platform for industry stakeholders to collaborate and plan future growth in the precious metals sector. Al Zeyoudi highlighted the UAE’s growing significance in the global market, stressing the country’s adherence to rigorous global standards in regulating and enforcing ethical practices. He noted, ‘Thanks to our strategic approach to foreign trade through the Comprehensive Economic Partnership Agreement programme, coupled with our rigorous regulatory framework that maximizes security, integrity, and transparency in every transaction, we have established a trading environment that facilitates precious metals commerce from around the world within a framework of trust.’
Al Zeyoudi underscored the vital role of the gold and precious metals sector in the UAE economy, citing a record US$186 billion in gold passing through the UAE in 2024. This achievement underscores the UAE’s status as the second-largest gold hub globally. He predicted that the UAE’s role will continue to grow alongside the CEPA programme, which fortifies the country’s trade relations and promotes global economic collaboration.
‘Through the CEPA programme, we have successfully concluded 32 trade deals, with 14 agreements now in force, unlocking unprecedented opportunities for trade and private sector collaboration in precious metals and other key sectors,’ he stated. He also highlighted the UAE’s stringent regulatory practices, which have earned and retained international trust, ensuring ethical and transparent precious metals trade aligned with global standards. Since 2020, the UAE has implemented laws and procedures that meet or exceed OECD guidelines, including mandatory AML and KYC protocols.
Touching on the conference theme, ‘The Future of Precious Metals: Tariffs, Tokenisation, and Trade Flows’, Al Zeyoudi discussed the transformative potential of technology. He highlighted policies like TradeTech and NextGen FDI, positioning the UAE at the forefront of innovation by leveraging AI and blockchain technology to improve liquidity and accessibility in precious metals trading.
Organized by the Dubai Multi Commodities Centre (DMCC), the DPMC brought together global industry leaders, policymakers, and experts to explore future trends, challenges, and innovations in the sector. The conference included discussions on the transformative impact of technology and the importance of traceability and responsible sourcing to build trust among global traders.