First Israel Diamond Week in Shanghai Signals New Era of Cooperation

First Israel Diamond Week in Shanghai Signals New Era of Cooperation

The diamond week in Shanghai ended today on a high note and expected to become an annual event. The SDE president Lin
said this was one of the most important events to be held and that he is very happy to see such vitality and energy

China salutes the Israel Diamond Exchange (IDE). This week we opened the first Israel Diamond week in Shanghai, expected to become an annual event, opening a new era of cooperation with the Shanghai Diamond Exchange. The Shanghai Diamond Exchange (SDE), headed by President Qiang Lin, hosted a delegation, led by IDE President Mr. Yoram Dvash, of prominent Israeli diamond companies and also the President of the World Federation of Diamond Bourses (WFDB) Mr. Ernie Blom.

The event included an Israeli exhibition of diamonds in China, discussions on technology and innovation in the diamond field and the creation of business contacts and commerce on the internet.

The excitement was evident right from the start. During the exhibition, a memorandum of understanding for cooperation between the China and Israel Exchanges was signed at a festive ceremony. The President of the SDE, Mr. Lin, said that this is one of the most important events to be held at the SDE and that he is very happy to see such vitality and energy on their trade floor; it reminds him of the unique atmosphere that prevails on the IDE trade floor at the international diamond week in Israel and he looks forward to further productive cooperation. The WFDB President, Mr. Ernie Blom, said that the WFDB welcomes initiatives of the kind that Israel and China are making today; two of the prominent diamond centers in the world are working together; at times like this, this is more than important and he congratulated the Presidents of both Exchanges.

China has become a world player, with high growth potential and strong purchasing power, and during the coming decade is expected to compete financially for the leading position versus the American superpower.

President Dvash said: in this situation, we must bring our Chinese partners closer with an aim to show the many advantages in working with members of the IDE, with emphasis on the benefits of the orderly regulatory environment in the country. Penetrating the Chinese market, as opposed to the American and European markets, is more complex and requires studying the target community and the challenges of local regulation.  Precisely at complex interface points, The Exchange is the only factor capable of opening trade relations to members and of becoming the coordinator between the Exchanges whilst providing services to its members.

In his speech, Mr. Dvash thanked the officials of the SDE for their hospitality and their assistance in organizing the event. He also said that in Israel, the “Start-up Nation”, many high-tech companies cooperate with Chinese companies; that we believe in the power of technology to benefit the diamond industry. He went on to say that we believe in innovative commerce via the internet. Even though the process is still in its infancy, it has tremendous potential and we expect to see it grow and develop.

IDE President Mr. Dvash summed up the visit: the delegation to Shanghai counted more than 15 companies, some of the most prominent in the Israeli industry, and he expressed his certainty that this is just the start of intensifying the excellent relations between the two Exchanges.

The meeting in Shanghai was initiated with the understanding that this would be a long term process. During this visit, senior Chinese diamond industry officials were invited to the International Diamond Week in Israel.

Mr. Dvash thanked his talented friends Mr. Uri Spiro - Chairman of the Committee for Foreign Relations, Mr. Ezra Boaron - Chairman of the Exhibition Committee, Mr. Eran Zini - Managing Director of the Exchange who presented the Israel industry activities, and Ms. Tal Sadan - Marketing Manager of the Exchange, for their dedicated and professional work in promoting this important meeting and said that he has no doubt that this is just the beginning of a new path and that the international trade and export versus China will only increase over the years.