Gautam Sashittal
Chief Executive Officer - DMCC

Tell us about the factors that have played an important role for the success of DMCC as the World's leading Free Zone?

DMCC was set up in 2002 to create a global market place for commodities and to drive trade flows through Dubai. Combine this with Dubai's unrivalled connectivity today which means that 8 hours on a plane in any direction gives access to 65 per cent of the global GDP, and two-thirds of the world's population, - and you have a rather powerful proposition for business makers and market makers alike. Our goal at DMCC is to continuously enhance the infrastructure, marketplaces, products and services we provide for our customers and market participants, so they can thrive, trade with confidence and grow their businesses.

We therefore recognise the importance and relevance of providing the right regulatory framework for our customers, a framework that is business friendly, protects our 15,000 plus Free Zone companies, and gives them business legitimacy. We are of course also closely aligned with Dubai's vision to be a dynamic and diverse economy of tomorrow, by bridging established and emerging markets, by creating new marketplaces, and connecting businesses from all over the world. As a result collectively our Free Zone community of 60,000 employees contribute 9.7 per cent to Dubai's GDP. These are some of the reasons why DMCC has been named 'Global Free Zone of the Year' by the Financial Times' fDi magazine for a three consecutive years.

VAT was introduced in the UAE from January 2018 also affecting the Gem and Jewellery sector. What will be the impact of this in the long run?

The implementation of VAT is a clear indication of the GCC governments' intent to diversify its revenue base and reduce over-dependence on oil revenue. The IMF has predicted that GCC states will boost GDP by 1.5 per cent with the implementation of VAT.

How can Bullion banks further support the precious metals industry?

Bullion banking plays a key role in the regional and global physical gold markets. It will be interesting to hear the views of our industry peers at the DPMC as we have a panel dedicated to this very topic themed 'Bullion Banking: The Road Ahead'.

You are hosting the 7th edition of 'Dubai Precious Metals Conference' taking place this month. How significant is this year's Conference and What are your expectations from the same?

The Dubai Precious Metals Conference has become a firm fixture on the industry's annual events calendar, and 2018 marks its seventh edition. We are expecting more than 300 delegates from across the world. DPMC offers significant value for delegates spanning every stage of the gold industry life cycle from miners to producers, fabricators, traders to financiers. As ever, this year's edition of DPMC will bring a fresh global outlook on the precious metals sector and what the future holds. We will look at topics of interest to the whole value chain – from mines to jewellers and everything in between – bringing insights and added value, as well as a valuable opportunity to network and unlock new opportunities.

Name the partner countries participating in this year's 'Dubai Precious Metals Conference'? What is the importance of such partner countries participating in premium conferences like DPMC?

This is a global conference, all market participants and country representatives are equally important. Representation from both producing and consuming countries are key to ensure all industry perspectives are covered throughout the value chain. To give you a flavour, featured speakers at this year's DPMC and the markets they represent include, Lord Dr Michael Hastings of Scarisbrick, Global Head of Citizenship, KPMG International; Manoj Kumar Dwivedi, Joint Secretary to Government Ministry of Commerce and Industry, Government of India; Albert L. H. Cheng, CEO, Singapore Bullion Market Association; Dr. Paul Elgin Walker, CEO, International Bullion Market Company based in the UK; Jiao Jinpu, Chairman, Shanghai Gold Exchange; and Tawhid Adbullah, Managing Director, Jawhara Jewellery.

What are the key topics to be discussed at DPMC this year?

Some key topics up for debate at this year's DPMC, to be held at The Westin Hotel, Habtoor City, Business Bay, include 'The Evolution and Impact of Taxation on Gold', 'Responsible Sourcing – Expectations and Reality', 'Bullion Banking - The Road Ahead', the 'Role and Future of Global Exchanges' and 'Challenges in the Jewellery Sector'.

For more details and registration, please visit: http://www.dpmc.ae/