20-8-2020
The governments of the United Arab Emirates (UAE) and Israel have signed an agreement on the normalization of relations. Israel economy ministry estimates the trade and investment between two countries could worth US$300-$500 million a year.
Yoram Dvash, the World Federation of Diamond Bourses (WFDB) acting president praises the agreement: “The UAE is an important member of the global diamond industry and Dubai is one of the world’s largest diamond capitals. I have had the privilege of visiting Dubai for WFDB meetings and of hosting the President of the Dubai Diamond Exchange (DDE) in Israel. This agreement will open up a huge horizon for economic cooperation between the two countries.”
The Rapaport Group said in a press statement that trade ties between the two countries are expected to foster significant opportunity for the diamond and jewellery industry.
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