ALROSA President Sergey Ivanov met with the President of Israel Diamond Exchange (IDE) Yoram Dvash and the Chairman of the Israel Diamond Institute (IDI) Shmuel Schnitzer. The parties discussed topical issues of the diamond market and the current situation in the Israeli diamond industry.

The parties discussed the IDE’s initiatives for the development of cutting and polishing in Israel. The Israel Diamond Exchange President told about new diamond manufacturing factories established in the territory of the Diamond Exchange, projects for the development of Internet-trade in polished diamonds, and informed ALROSA’s management about the International Tender Center launched early this year – a trading platform for diamond producers.

The Israeli diamond sector management also welcomed the efforts of ALROSA and other members of the Diamond Producers Association to resume the generic diamond marketing program.

Sergey Ivanov highly appreciated achievements of Israeli colleagues in the sphere of separate trade in natural and synthetic rough diamonds. “Due to a ban on the trade in synthetic rough diamonds on the platform of the Exchange, tax and other measures, including the use of state-of-the-art detection devices, there is no issue of “undeclared synthetic diamonds” in Israel. There is no doubt that lead natural diamond producers must be confident in such an approach,” noted ALROSA President.  

In conclusion of the meeting, Yoram Dvash and Shmuel Schnitzer invited ALROSA to participate in the celebration of the 80-th anniversary of the Israel Diamond Exchange.

Reference

The first diamond exchange in modern Israel was established in 1937. The Israel Diamond Exchange is located in the complex of buildings in Ramat Gan. It unites about 3,100 participants from different areas of the diamond business. The Exchange is a member of international organizations, such as the World Diamond Council and the World Federation of Diamond Bourses.