HE Al Zeyoudi: “The UAE is proud to have established a transparent trading environment that enhances the integrity of our precious metals sector and facilitates trade from around the world within a framework of trust.”
Abu Dhabi, UAE – His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, delivered the keynote address at the 13th Dubai Precious Metals Conference (DPMC), highlighting how the UAE’s Comprehensive Economic Partnership Agreement (CEPA) program, combined with a robust regulatory framework and enforcement measures, has significantly enhanced the nation’s role in the global trade of gold and other precious metals.
The DPMC serves as an essential platform for industry stakeholders to collaborate and chart the next phase of growth in the precious metals sector. In his address, HE Al Zeyoudi reiterated the UAE’s increasing importance in the global precious metals market, emphasizing the nation’s commitment to the highest global standards in regulating and enforcing ethical practices: “Thanks to our strategic approach to foreign trade through the Comprehensive Economic Partnership Agreement program, 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.”
Highlighting the significant contributions of the gold and precious metals sector to the UAE economy, HE Zeyoudi noted that these commodities are crucial components of the nation’s non-oil trade. He highlighted the fact that the total value of gold passing through the UAE reached a record USD$186 billion in 2024, underscoring the country’s status as a vital link in global supply chains. The UAE is now the second-largest gold hub in the world, further solidifying its international market significance.
HE Al Zeyoudi projected that the UAE’s role will continue to expand alongside the CEPA program, which continues to strengthen the country’s trade relations and foster economic collaboration globally.
“Through the CEPA program, 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 emphasized that the UAE’s robust legal framework and stringent regulatory practices have earned and retained the trust of the international community, ensuring that the country’s precious metals trade remains ethical, transparent, and aligned with the highest global standards. Since 2020, the UAE has introduced a series of laws and procedures for the precious metals sector that align with, and in some areas exceed, OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas. These measures include mandatory anti-money laundering (AML) and know-your-customer (KYC) protocols, annual audits, and full enforcement at all points of entry.
Addressing the conference theme, ‘The Future of Precious Metals: Tariffs, Tokenization, and Trade Flows’, HE Al Zeyoudi noted the transformative potential of technology in the sector. He highlighted pioneering policies such as TradeTech and NextGen FDI, which position the UAE at the forefront of innovation in precious metals trading, leveraging AI and blockchain technology to enhance liquidity and accessibility for all market participants.
The DPMC, organized by the Dubai Multi Commodities Centre (DMCC), convened industry leaders, policymakers, and experts from around the world to explore the future of precious metals. The conference featured discussions on emerging trends, challenges, and innovations within the sector, with attendees engaging in dialogue about the transformative impact of technology and the importance of traceability and responsible sourcing in building trust among global traders.
