Summer Edition of IDW Kicks Off

Ramat Gan: The Summer Edition of the International Diamond Week in Israel (IDWI) kicked off on Sunday, August 30, with some 400 buyers attending. During the five-day event, the buyers and hundreds members of the Israel Diamond Exchange (IDE) will be frequenting the trading tables of some 300 Israeli, Belgian, American and Indian companies that are displaying polished diamonds in a wide range of qualities, quantities and prices. The total amount of goods on display is estimated to surpass the billion dollar mark.

Sunday saw a short ceremony during which the IDE’s in-house, newly refurbished Technology Service Center (TSC) was dedicated. Located on the trading floor itself, the TSC lets members use a wide range of the latest technological devices and gemological equipment, both for rough and polished diamonds. The first day concluded with a lecture by Thom Moses, Vice President and Director of the GIA Gem Trade Laboratory in New York, who presented an update of GIA’s latest research findings.

On Monday morning, as has become tradition, the official opening ceremony was held. The Guest of Honour, Israel Trau, CEO of Union Bank, reviewed his bank’s longstanding relationship with the Israel diamond business community and expressed his firm belief that both the Israel diamond industry and Union Bank could look forward to many more years of fruitful cooperation.

The ceremony also awarded IDE President Shmuel Schnitzer the opportunity to honor the parting President of the Antwerp Diamond Bourse Marcel Pruwer with an honorary IDE membership in recognition of Pruwer’s valuable contribution to the fruitful cooperation between the Belgian bourse and the IDE.

Other speakers during the opening ceremony included IDE Deputy President Kobi Korn; David Lasher, General Manager of the Diamond Dealers Club of New York and last but not least Norayr Isler, Chairman of the board of directors of IKO, Istanbul Chamber of Jewelry, who is heading a sizeable delegation of Turkish buyers.

The  International Diamond Week in Israel is organized by the Israel Diamond Exchange, in close cooperation with the Diamond Dealers Club of New York (DDC), the Antwerp Diamond Bourse (Beurs voor Diamanthandel), and, for the first time, also by the Bharat Diamond Bourse. All exchanges will be represented by delegations of their members on the IDE trading floor at the event.