{"id":1179,"date":"2020-09-19T09:58:33","date_gmt":"2020-09-19T09:58:33","guid":{"rendered":"http:\/\/www.goodwillexchange.ae\/blog\/?p=1179"},"modified":"2020-09-19T09:58:36","modified_gmt":"2020-09-19T09:58:36","slug":"israeli-and-emirati-diamond-exchanges-sign-collaboration-agreement","status":"publish","type":"post","link":"https:\/\/www.goodwillexchange.ae\/blog\/2020\/09\/israeli-and-emirati-diamond-exchanges-sign-collaboration-agreement\/","title":{"rendered":"Israeli and Emirati diamond exchanges sign collaboration agreement"},"content":{"rendered":"\n

Dubai Diamond Exchange and the Israel Diamond Exchange signed an agreement on Thursday to develop closer working ties.<\/p>\n\n\n\n

The two bourses have agreed to promote bilateral trading opportunities and partner on initiatives to grow regional trade, such as conferences, exhibitions and visits, they said in a statement on Thursday following an online signing ceremony.<\/p>\n\n\n\n

\u201cThe strategic agreement signed between the Dubai Diamond Exchange and the Israel Diamond Exchange is an important one that unlocks huge potential for both parties,” said Ahmed Bin Sulayem, chairman of Dubai Diamond Exchange<\/a> and the Dubai Multi Commodities Centre \u2013 the free zone in which the exchange is based.<\/p>\n\n\n\n

“This agreement will attract businesses to the emirate as well as boost the regional and international trade of this precious stone,\u201d he added.<\/p>\n\n\n\n

The UAE and Israel on Tuesday\u00a0signed the Abraham Accord\u00a0at the White House in Washington DC to normalise relations, facilitating the potential for more trade and investment in a number of sectors such as aviation, financial services, security, telecoms, technology and tourism.<\/p>\n\n\n\n

Agreements have already been signed by UAE banks\u00a0Emirates NBD\u00a0<\/a>and Abu Dhabi Islamic Bank with Israeli lenders, and by Dubai-based ports operator\u00a0DP World\u00a0with the co-owner of the Port of Eilat and Israel Shipyards.\u00a0Abu Dhabi Investment Office\u00a0also said it will open its first international office in Tel Aviv.<\/p>\n\n\n\n

Dubai has rapidly built a presence in the industry, with the total value of rough and polished diamonds handled through the emirate climbing to Dh84bn last year, up from just Dh13.2bn in 2003. The Dubai Diamond Exchange also opened the world’s biggest diamond trading floor in September last year at its headquarters in Almas Tower.<\/p>\n\n\n\n

The Israel Diamond Exchange<\/a> will open a representative office at the tower as part of the collaboration agreement and DMCC will open a sales office at IDE\u2019s headquarters in Ramat Gan, Tel Aviv.<\/p>\n\n\n\n

\u201cWe are very excited to sign this strategic agreement with DMCC. Dubai, with its free zone and convenient business conditions, has become one of the most important diamond centres in the world,” Yoram Dvash, president of the Israel Diamond Exchange and the World Federation of Diamond Bourses, said.<\/p>\n\n\n\n

“It is close to the major manufacturing centres, and the Asian diamond market,” he added. “This agreement between our two world-class centres will be of enormous value to both sides.”<\/p>\n\n\n\n

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