Egypt exports the first shipment of gold jewelry to the Emirates
Shrouq
The Chairman of the Board of Directors of the Kermina Company for Jewelry, Mamdouh Abdullah Massaad, a member of the Board of Directors of the Metals and Gold Division in the Chamber of Metallurgical Industries of the Federation of Egyptian Industries, announced the success of exporting the first shipment of gold jewelry to the UAE market, which amounts to 23 kilos of gold jewelry in the latest shapes and models.
Abdullah added, in press statements, that the shipment of 23 kilos, which was directed to the UAE market today, is just the beginning of the expansion of exports to the UAE as one of the most important gold and mineral markets in the world, noting that Dubai is an important exchange for gold, and export to it is a starting point.
UAE market
He pointed out that Kermina pumped large quantities into the local market with the same quality of products and artifacts that were exported to the UAE market.
Saudi market
Before that, the company succeeded in exporting 12 kilos of gold to the Saudi market, following the decision of the Minister of Supply and Trade, Dr. Ali Al-Moselhi, in December 2022 to cancel the valuation fees, which were set at 1% on artifacts.
Dollar proceeds
The proceeds of exporting gold artifacts return to the market in the form of raw gold, and the benefit here is operating factories, as well as obtaining workmanship in dollars, which means dollar proceeds for the state.
