Opening the new office were senior representatives and government officials from DMCC, WFDB, IDE and the Israeli Consulate. Left to right: Ilan Shtulman, consul general of Israel in Dubai, Boaz Moldawsky, President of IDE, Ahmed Bin Sulayem, executive chairman and CEO of DMCC; Yoram Dvash, Preside
The Israel Diamond Exchange (IDE) has announced it has opened an office in the Dubai Multi Commodities Centre (DMCC).
Located in the Almas Tower at the Dubai Diamond Exchange, the opening of Israel’s representative office “signifies the close ties between the country’s respective diamond industries” according to a press statement from the DMCC.
Another purpose for the IDE office in Dubai is to promote the ease of conducting business transactions among Israeli diamond producers and buyers trading in the DMCC.
The announcement was made during the inaugural Jewellery, Gem & Technology show in Dubai after the DMCC declared UAE as “the world’s largest rough diamond trade hub” which traded an estimated $US22.8 billion ($AU31.3 billion) of rough diamonds in 2021.
The Jewellery, Gem & Technology expo opened on 22 February at the Dubai World Trade Centre.
Hundreds of industry leaders and stakeholders attended the conference to discuss industry trends, updates and the future of the international diamond market.
Organised and hosted by the DMCC, the conference is highlighted with high-level discussions on emerging consumer behaviour amid the strong rebound of the diamond industry despite the effects of the COVID-19 pandemic.
The week-long conference kicked-off with the World Diamond Council board meeting on 20 February, followed by the Jewellery Awards gala dinner honouring individuals and significant contributions to the international diamond and jewellery industry.
The conference will be capped with meetings by the World Federation of Diamond Bourses and International Diamond Manufacturers Association on 24 to 25 February.
The DMCC was established in 2002 by the Government of Dubai to provide the physical, market and financial infrastructure required to establish a hub for global commodities trade.