Israel, Dubai diamond exchanges begin strategic collaboration

The Israel and Dubai diamond exchanges have signed an agreement to promote cooperation in a deal certain to boost direct trade between the Middle East’s main diamond hubs.

The diamond deal, finalised in a video conference ceremony, was welcome news for an industry hit hard by the coronavirus pandemic and overall weaker global demand.

The two parties said they will share experience and knowledge, work to promote bilateral trade and collaborate on exhibitions, visits and conferences. They also agreed to arrange an Israeli-Dubai diamond fair to be held in Dubai and Ramat Gan and to promote electronic trade.