Major companies and designers at home and abroad have gathered in Egypt’s first-ever trade fair for gold and jewelry here in the capital Cairo to support local industries and attract foreign investments.
The three-day Nebu expo, which runs until Monday and is named after the Egyptian symbol for gold, has attracted over 30 major manufacturing and trading firms from Egypt as well as master goldsmiths and designers.
“The exhibition helps us develop relationships with existing and potential customers. It also adds value to the influence of marketing activities,” George Abdallah, a local marketing manager told Xinhua.
Sponsored by the Egyptian government, the expo also came as unique trading and investment platform for the industry in the Middle East and Africa, according to Abdallah.
“Here, we can reach customers that were not reached before through regular promotions. We can also increase sales and collect business leads,” he noted.
“This is the first fair for makers where I can meet a large number of jewelry manufacturers one-stop” and talk to them directly, Amr Mamdouh, a visitor seeking business opportunities, told Xinhua.
“I can also know more about the industry in Egypt through live seminars and discussion panels” during the trade fair, he added, referring to the sideline events.
Egyptian Minister of Trade and Industry Nevine Gamea said the Egyptian jewelry industry enjoys competitiveness as the country is becoming a major production and export hub in the Arab region and Africa.
Gold production from Egypt’s major Sukari mines has hit an annual average of 15.8 million tons, which is expected to increase with the Golden Triangle project launched in the Eastern Desert, the minister said earlier during the opening ceremony.
Gold City in Egypt’s New Administrative Capital
Gamea said the government intended to build the first domestic refinery to purify gold extracted from Egypt and other countries in the Middle East and Africa, as an alternative to the refineries in Switzerland and Canada.
The Egyptian government has also tried to add more value to the local industry by building a new city for the manufacture and trade of gold in the New Administrative Capital, she said.
The new city would include 400 technical workshops for gold production, 150 other educational workshops, and a vocational school, she added.