China is celebrating the Israeli Diamond Exchange this week by holding the first-ever Israeli Diamond Week.
The week-long event in Shanghai will feature Israeli and Chinese companies showcasing their diamonds in a special exhibition at the Shanghai Diamond Exchange.
The Israeli Diamond Week is slated to become an annual event.
Several diamond companies, as well as senior officials from both diamond exchanges, will attend the event.
A new online initiative for networking and business collaboration will be unveiled by Chinese E-commerce giant Alibaba.
In addition, the attendees will be offered lectures and discussions on the latest news in diamond technology.
The Israeli and Chinese exchanges are slated to sign a Memorandum of Understanding (MOU).
Israel will be represented by 16 diamond companies, headed by the President of the Israeli Diamond Exchange Yoram Dvash. Ernest Blom, President of the World Federation of Diamond Bourses, and Qiang Lin, President of the Shanghai Diamond Exchange will also attend the event.
“For the first time, we will be having the Israeli Diamond Week in Shanghai. There is no doubt this kind of event is a testament to the strength of the Israeli diamond brand, and the incredible journey it’s endured,” said Dvash.
From “a small country with no diamond mines, Israel has become a leader in the world diamond industry,” he added, saying that the MOU will “further strengthen the ties between Israeli and Chinese diamond brokers and will lead to new opportunities for Israeli and Chinese diamond exchanges alike.”
He also expressed hope that these connections will in turn foster innovation, improve the relations with regulators and open vast new markets to the Israeli brokers.