Israel's international diamond week event aiming to return global industry to full strength

The Israel Diamond Exchange (IDE) is leading the international diamond business sector's marketing efforts at a time when it needs to make tremendous efforts to return to profitability and strong growth, IDE President Yair Sahar said in a message to 150 diamond buyers who will be taking part in the US / International Diamond Week.

The event will be held March 17-20 at the Israel Diamond Exchange (IDE) in Ramat Gan.

"The US / International Diamond Week is the inaugural event in a series of business-to-business events under the banner of International Diamond Week in Israel," Sahar explained.

"Our industry has gone through a prolonged period of difficulty, and it is now ready to rebound in full force. Reports from the March Hong Kong International Jewellery Show last week indicate that positive change is taking place. We therefore hope to see similar signs of robust trading here in Israel as well next week," Sahar said.

IDE General Manager Moti Besser said: "Our colleagues at the Israel Diamond Institute (IDI) invested great efforts in speaking to companies at the Hong Kong International Jewellery Show about the advantages offered by this event. Diamond buyers are also used to traveling at short notice, resulting in many companies registering in recent days," Besser added.

Approximately 150 foreign buyers have so far confirmed their participation, with more diamantaires continuing to register, the IDE said. During the week-long event, as many as 200 Israeli diamond firms will be displaying polished diamonds with a value of more than $1 billion on the IDE trading floor.