Arusha gem fair to seal 10bn/- business deals

The Arusha International Gem, Jewellery and Mineral Fair (AIGJMF 2012) which is scheduled for four days late this month has attracted 100 international buyers and 40 exhibitors.

The Fair Organising Chairman, Mr Abe Suleiman, has said the event, one of its kind for almost a decade ago to be staged at Mount Meru Hotel, has also attracted 60 non-buyer participants.

 “Most buyers have power of purchasing between 50 and 60 million US dollars (about 80bn/- and 96bn/-) per year and expects they will spend about 10 per cent of their ability in the show,” Mr Suleiman said.

He added: “In that case we expect the fair will generate between 1.0 million US dollars (about 1.6bn/-) and 6 million US dollars (about 9.6bn/-) business deal in those four days.”

According to available information from the Ministry of Energy and Minerals, the previous gem-shows used to generate up to 600,000 US dollars (about 960m/-) annually.

The exhibition called by the government and organised in collaboration with gem dealers wants to turn Arusha a gem hub in East and Central Africa in a short period to come.

According to the organiser, exhibitors are not only limited to Tanzanians only but is open to EAC and SADC member countries, and there is a dozen from Mozambique, South Africa and Madagascar.

“It’s going to be competent and dynamic show, I promise you,” Mr Suleiman said over the phone from Arusha. The chairman said the buyers are expected to come from USA, Canada, Brazil, Europe, India, Thailand, Australia, Japan, South Africa and in neighbourhood countries.

“This is going to be a show for qualities and not quantities,” Mr Suleiman said, “there are also sideline activities including visiting neighbourhood gems mine and classical game parks in the last day.”

Organizers said the AIGJMF 2012 promises to be the first, true regional African show that brings together exhibitors from East, Central and Southern Africa.

The show will feature a wide variety of colored gemstones and diamonds. The exhibition used to be held annually for seven consecutive years but was stopped in 1999 due to some dealers who were allegedly accused of abusing the gemstones licences for personal gains.
Source: The Daily News, http://www.dailynews.co.tz
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