Egypt aspires to be gold hub with its first gold expo
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An exhibitor shows jewelry to a customer during the Nebu expo for gold and jewelry in Cairo, Egypt, on Feb. 20, 2022. (Xinhua/Ahmed Gomaa)
CAIRO, Feb. 21 (Xinhua) -- Major gold 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 for gold and jewelry, which runs until Monday and is named after the Egyptian symbol for gold, has attracted over 30 major gold 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 gold makers where I can meet a large number of gold and 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 gold 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 Nevin Gamea said the Egyptian gold and 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.
Gamea said the government intended to build the first domestic gold 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 gold industry by building a new city for the manufacture and trade of gold in the New Administrative Capital, she said.
The new "City of Gold" would include 400 technical workshops for gold production, 150 other educational workshops, and a vocational school, she added. ■
A man takes photos of jewelry during the Nebu expo for gold and jewelry in Cairo, Egypt, on Feb. 20, 2022. (Xinhua/Ahmed Gomaa)
An exhibitor arranges jewelry during the Nebu expo for gold and jewelry in Cairo, Egypt, on Feb. 20, 2022. (Xinhua/Ahmed Gomaa)
A woman wears jewelry to show during the Nebu expo for gold and jewelry in Cairo, Egypt, on Feb. 20, 2022. (Xinhua/Ahmed Gomaa)
People view jewelry during the Nebu expo for gold and jewelry in Cairo, Egypt, on Feb. 20, 2022. (Xinhua/Ahmed Gomaa)
A woman shows jewelry during the Nebu expo for gold and jewelry in Cairo, Egypt, on Feb. 20, 2022. (Xinhua/Ahmed Gomaa)
An exhibitor shows a piece of jewelry during the Nebu expo for gold and jewelry in Cairo, Egypt, on Feb. 20, 2022. (Xinhua/Ahmed Gomaa)
