MidEast jewellery prospects lure Japan team to Sharjah

Japanese jewellers have been smitten by the lucrative Middle East market.

Known for their dedication to precision and quality, and innovative sense of style and creativity, a team of leading jewellers from Japan is in the UAE to explore market potential for their products.

Five jewellers led by Hisashi Mochizuki of Goko Shokai Co. Ltd. visited the MidEast Watch & Jewellery Show on its concluding day on Saturday (April 7) at Expo Centre Sharjah.

The team held talks with Expo Centre Sharjah officials and showed keen interest in the MidEast Watch & Jewellery Show, which is the only biannual show in the region. They also explored the possibility of introducing a Japanese pavilion for the upcoming autumn edition of the Sharjah fair.

“The MidEast Watch & Jewellery Industry has become a magnet of sorts for leading jewellers from across the world to test the Middle East market. Being a weekend and the concluding day of the show, we could present the visiting team a big slice of the vibrant jewellery market of the region. They could see the diversity of our exhibitors, the quality of visitors and the sales that was happening at the counters,” said H.E. Saif Mohammed Al Midfa, CEO, Expo Centre Sharjah.

The Japanese team’s visit follows a meeting with Expo Centre Sharjah’s senior executives during the Hong Kong International Jewellery Show that was held from February 28 to March 9. The team members also visited the halls of some of the 500 exhibitors who were taking part in MidEast Watch & Jewellery Show.

“Japan is one of the world’s most prolific manufacturers of pearls and finished jewellery, besides maintaining a good position in the diamond jewellery sector. However, the overseas market is extremely significant to the Japanese jewellery industry and a big presence at the MidEast Watch & Jewellery Show will be the best option for them,” said Mr P. Ravi, Director, Sales & Marketing, Expo Centre Sharjah.

Though the MidEast Watch & Jewellery Show caters to the entire Middle East and North Africa region, the UAE itself offers a good market for Japanese jewellers, with the country having one of the highest per capita gold consumption in the world. About 43.4 tonnes of the precious metal was sold in the UAE in 2017.

A larger Japanese participation would also boost the already strong trade ties between the UAE and Japan. Non-oil trade between the countries has touched US$14.5 billion, and there are more than 100 Japanese firms operating in the UAE in addition to 200 agencies, and 10,000 Japanese trademarks registered nationwide.

The 44th MidEast Watch & Jewellery Show was held from April 3 to 7, featuring a wide range of exhibitors and brands from 25 different countries including the UK, Japan, Russia, the US, Latvia, Lithuania, Saudi Arabia, Pakistan, Jordan, Bahrain, Turkey, Taiwan, Yemen and the UAE.