Noora Jamsheer, the CEO of Bahrain Institute for Pearls and Gemstones (DANAT), moderated a panel discussion on the creative economy titled “Trade and Heritage Meets Innovation: Unleashing the Creative Orane Potential” at the World Entrepreneurs Investment Forum 2024 (WEIF) in its fifth edition.
The panel discussion, held within the activities of the forum, saw the participation of several notable figures, including Mr. Ammar Basheir, Creative Art Preneur; Mr. Giulio Finzi, Professor at IUAD Accademia della Moda, Italy; Ms. Tamara Hostal, Entrepreneur, Founder, and CEO of ESMOD French Fashion Institute, Dubai; Mr. Faical Nouach, Chairperson and Visionary Founder of the European Cultural Harmony Music Foundation, Netherlands; and Ms. Samrawit Mersiehazen, Founder and CEO of SAMRA Leather, Ethiopia. Together, they explored the intersection of trade, heritage, and innovation, aiming to unleash the creative potential within the industry to drive economic growth and cultural preservation.
During the panel discussion, Mrs. Jamsheer emphasized the importance of embracing the creative economy, also known as the orange economy, as an ecosystem based on cultural and creative industries that bring significant economic benefits and foster innovative employment opportunities. She highlighted that this type of economy encompasses various creative endeavours in visual, auditory, performing, digital arts, and more, transforming them into sustainable industries that drive economic leadership. Furthermore, she emphasized the creation of an artistic system aimed at generating added value to artistic, cultural, and heritage production.
Mrs. Jamsheer delivered a comprehensive analysis of the Bahraini pearl industry, as one of the key creative industries in the Kingdom, encompassing its historical significance, evolving market dynamics, and future potential, and reviewed the impact of recent trends on trade, advocating for the utilization of pearls in bolstering cultural and heritage tourism.
Additionally, Mrs. Jamsheer emphasized DANAT’s role in promoting sustainability within the pearl industry, while achieving a balance between innovation and tradition.
“The Kingdom places substantial emphasis on revitalizing the pearl trade, a global industry valued at approximately $146 billion. This focus stems from the incorporation of natural pearls in high-value gold and jewellery creations, which directly bolster the national economy. Jewellery featuring natural pearls presents a lucrative trade for investors, enjoying strong demand and purchasing power within Bahrain and the broader Gulf region.”
The CEO of DANAT underscored the vital role of continuous policy and procedure development to nurture heritage-based trade and creative industries, emphasizing the necessity of cultivating national expertise to ensure knowledge transfer to future generations. This commitment to fostering innovation and creativity within industries serves to safeguard cultural identity.
The pearl and gemstones sector, Mrs. Jamsheer asserted, stands as a shining example of the interconnectedness of tourism, heritage, and trade, highlighting Bahrain’s distinctive marine resources, compelling tourist attractions, and rich historical tapestry. By leveraging these elements, the Kingdom is poised to drive sustainable economic growth.