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Signing a memorandum of understanding with the President of the Diamond Exchange in Shanghai

Signing a memorandum of understanding with the President of the Diamond Exchange in Shanghai
The Israeli Diamond Exchange hosted a delegation of dignitaries from China, and signed a memorandum of understanding.

On April 25th, The Israeli Diamond Exchange hosted a delegation of dignitaries from China, along with the President of Israel Diamond Manufacturers Association Mr. Kobi Koren, Vice President, Mr. Hezi Bloom and members of the Board of Directors of the diamond Exchange. We signed a memorandum of understanding, according to which, China will transfer to Israel the processing of the large stones for a rehabilitation plant in our Diamond Exchange complex.

This extraordinary move, in which the Chinese are putting out work for Israel in contrast to the global trend, is an amazing testimony to the advantages of Israeli technology and the global reputation of our diamond industry. The establishment of the new diamond plant is part of the technological revolution that the diamond exchange is currently undergoing, following the steps already underway.

In addition to the decision to transfer the polishing activity to Israel, we agreed in the memorandum of understanding that both diamond exchanges will provide offices and trading rooms and will shorten the process of receiving an Israeli diamond dealer from the Chinese Diamond Exchange and a Chinese diamond dealer on the Ramat Gan Diamond Exchange. Our diamond exchange members have also been invited to participate and receive free plane tickets for academic courses that the Shanghai Diamond Exchange grants to its members.

"Today, diamonds have become a symbol of friendship between Shanghai and Israel and a key aspect of trade between the two countries, as Israel is a leading player in the global diamond industry," said Pudong Mayor, "and the Israeli Diamond Exchange has a lot to offer us in the field of technology, entrepreneurship and stones processing . Many Chinese who bought a small diamond for their wedding buy a larger diamond for their silver wedding and many of them buy it from Israel."

"Israel and China have very good relations, especially in the diamond industry, I will not forget how much help we received from our Israeli colleague when we established the diamond exchange in China," he said, referring to the special relationship between the Israeli exchange and the Shanghai Exchange. "Israel is still one of the leaders of the global market, and the agreement today creates a basis for fruitful cooperation in the future that both sides will benefit from. "

"The cooperation and the decision to transfer some of the polishing activity to Israel is a historic breakthrough" said Yoram Dvash, President of Israel Diamond Exchange

"I welcome the signing of this memorandum of understanding. The Shanghai Diamond Exchange is a true friend of the Israel Diamond Exchange, and I would like to congratulate The President of the Shanghai Diamond Exchange, the mayor of Pudong and their delegation, for visiting our diamond exchange. I believe that the agreement will provide both industries with important infrastructures to help them develop, and this joint path will lead to the development of the international diamond and jewelry industry."

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