12-10-2020
Dozens of Israeli company flock to establish business with Dubai in the wake of the strategic agreement between Dubai Diamond Exchange (DDE) and Israel Diamond Exchange (IDE) signed to ‘promote bilateral trade opportunities and drive innovation in the diamond industry’.
38 Israeli companies have requested the Dubai Multi Commodities Centre (DMCC) to set up offices in Dubai. One of the traders, Zvi Shimshi, said in an interview with Reuter that shifting regional politics could alter global trade dynamics.
South African diamond tender house Trans Atlantic Gems Sales (TAGS) owner Anthony Peters said nearly 50 Israeli-based companies expressed their interests in participating in Dubai-held tender within a month.
Martin Rapaport, Rapaport Group chairman said: “Dubai has an opportunity to develop as a global diamond trading network for polished, and open up channels to the rest of the Arab world for diamonds and jewellery”. DDEchairman Ahmed bin Sulayem optimistically assumed: “We will see the business grow a bit more and more in the coming months.”
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