24/04/2018

The Committee for Goods and Materials Subject to Import and Export Control started a three-day meeting yesterday with a delegation from the government of the Democratic Republic of Congo. The meeting was held at the Minister of Foreign Affairs and International Cooperation office in Dubai. It is aimed at discussing means of bolstering cooperation between the two countries in regulating gold trade according to the best international practices in this regard.

The meeting reflects the deep belief of both countries in the importance of devising standards and mechanisms for regulating gold trade in a way to enhance trading and investment exchange between them.

The meeting was headed by HE Talal Mohammed Al Tenaiji, Director of the Executive Office of the Committee, in attendance of HE Ahmed bin Sulayem, Executive Chairman of the Dubai Multi-Commodities Centre, DMCC, a world-class free zone for commodities and business. The UAE delegation to the meeting included representatives from the Ministry of Economy, the Ministry of Interior, the Federal Customs Authority, Dubai Customs, the Executive Office for the Committee for Goods and Materials Subject to Import and Export Control and DMCC.

Meanwhile, the Congolese delegation was headed by Pascal Nyembo Muyumba, Director General of the Centre for Evaluation, Expert Analysis and Certification of Precious Minerals (CEEC), the body responsible for monitoring mining, minerals and precious metals operations. The delegation included representatives of a number of Congolese ministries in fields of mineral and customs as well as governmental entities.

At the beginning of the meeting, HE Tala Al Tejaiji extended heartfelt greetings on behalf of HE Dr Anwar Bin Mohammed Gargash, Minister of State for Foreign Affairs and President of the Committee for Goods and Materials Subject to Import and Export Control, and his wishes for a successful meeting.

“This meeting reflects the efforts the UAE and the Democratic Republic of Congo to strengthen their cooperation and partnership. Today, we are meeting our friends who are concerned with gold trade from the Ministry of Minerals and Customs of Congo and other relevant institutions, with the aim of regulating gold trade while considering the best practices to adopt appropriate standards and mechanisms and strengthen the commercial and investment exchange between our countries,” said Al Tejaiji.

HE Al Tejaiji further expressed his thanks and appreciation to the United Nations for supporting the initiative of the UAE and the Democratic Republic of Congo to hold this meeting, as well as for its suggestion to curb the illegal and hand-carried gold trade, as referenced in the Security Council Resolution No. 2293 for 2016, hoping that the meetings will produce outcomes that will set a pattern to be followed in eliminating such phenomenon.

Held in cooperation with Dubai Multi-commodities Centre (DMCC), the meeting included introductory presentations by representatives of several ministries and official authorities from both countries. The Federal Customs Authority, FCA, in cooperation with the Dubai Customs, presented an introductory demonstration that focussed on the procedures to deal with gold at national customs entry points and the relevant laws, regulations and penalties in effect in the UAE, in addition to the types of fines imposed in relation to disclosing cash and precious metals.

Another presentation was delivered by the DMCC covering the centre’s mining operations, and highlighting its status as a leading trading hub in the precious metals sector. The presentation underlined the DMCC’s readiness to support the UAE authorities and all other stakeholders worldwide in any manner that may push the wheel of this trade ahead and grow this important sector of the UAE national economy.

Meanwhile, in their presentation, the Congolese delegation introduced their country’s regulations and procedures for exporting precious metals, especially gold.

Discussion in the second day of the meeting addressed the recommended operational mechanisms and an agreement on the procedures and standards to regulate the gold trade. On the agenda of the meeting is also a field visit to the Gold Souk (market) and the gold refinery in Dubai.

The Head of the Congolese delegation, Muyumba, thanked the UAE government for hosting the meeting, which, he said, has the support of his country’s president, and discusses the means of cooperation between both countries and exchanging expertise in regulating gold exports from the Democratic Republic of Congo to the UAE. “This meeting is a historical moment as it will have direct positive impact on further enhancing the security and stability of Congo,” he underscored.

For his part, Ahmed Bin Sulayem reiterated DMCC’s interest in providing every support in relation to gold trade. “We are pleased with the support by the Ministry of Foreign Affairs and International Cooperation during the final round of our strategic deliberations regarding the gold trade with representatives of the government of Congo. As a pioneering world-class centre for commodities trading in Dubai and a centre of excellence in the precious metals sector, the DMCC strives to cooperate with all relevant UAE authorities and international partners to promote the growth of this important sector of our national economy,” said Bin Sulayem.

Worth mentioning, the Executive Office for the Committee for Goods and Materials Subject to Import and Export Control was created in 2009 and carries out its duties from the office of the Ministry of Foreign Affairs in Dubai.

The UAE issued Federal Law No. 13 of the year 2007 regarding goods and materials subject to import and export control. It discusses all the goods that are controlled, particularly materials related to weapons of mass destruction. The committee was also established according to this law, of which the executive office plays an important role in implementing international decisions in coordination with specialised authorities.