Polygon, the largest B2B Internet marketplace of the jewelry industry along with the Dubai Metals and Commodities Centre or DMCC, a free-trade zone and an initiative of the Government of Dubai, announced here today of the formation of a joint venture corporation for advocating the cause of the expansion of the company throughout various countries of the Africa, Asia, and also the Middle East. It has also been confirmed, that henceforth the joint venture worth$12 million shall be responsible for the marketing of the Polygon through a wide range of countries stretching from South Africa to Korea and also the fast-growing markets of China, India, Thailand and the Arabian Peninsula.

Polygon is the largest online marketplace for business-to-business trading in the gem and jewelry industry operating in the jewelry industry for the last 22 years at a stretch. On Polygon, seller's list inventories of their products and buyers search based on their needs but actual business transactions are limited to members. Only legitimate gem and jewelry companies are allowed access and it is closed to consumers. The company is in operation in the U.S. since 1984 and is now expanding into Asia, South Africa, the Middle East, and Russia as a joint venture with the Dubai Multi Commodities Centre.

While speaking on the occasion Jacques Voorhees, the founder and CEO of Polygon said, "Polygon is well established in North America but this joint venture will bring additional resources needed to grow Polygon in some of the most strategic areas for our industry. With the gem and jewelry market globalizing rapidly, and Dubai positioning itself as a headquarters trading centre for much of the Eastern hemisphere, Dubai is both an ideal base of operations, and DMCC is a natural joint venture partner. In addition to bringing the advantages of online B2B sourcing and marketing to Asia and Africa, we also hope to produce value-added for our existing Polygon customers who will now be connected to sources of supply and emerging new markets not previously accessible. "

While on the other hand Dr. David Rutledge, Chief Executive Officer of DMCC and Chairman of the Dubai Diamond Exchange, a WFDB affiliate said, "DMCC is affiliating with the very top players in their fields." "In the case of online trading in the diamond industry, that means Polygon. Clearly, what we are doing in Dubai, with the creation of the market-specific infrastructure, the free trade zone, and the Diamond Exchange needs to include an online component for global trading in the 21st century," he concluded.