The Israeli Diamond Institute (IDI)will make its mark in the Hong Kong International Jewelry Show this March. The IDI plans to have not only its largest showing to date, but it will also be the largest national pavilion at the show this year.
Israel plans to bring 60 companies to exhibit at the pavilion, signaling Israel’s great interest in trade with Hong Kong.
Hong Kong represents a large share of the market for Israel’s polished diamonds and the two countries expect a continued rise in business. Israel exported $1.043 billion in polished diamonds to Hong Kong in 2009.
“For many years, we have developed excellent relations with diamond companies in Hong Kong and other parts of the Far East,” IDI chairman Moti Ganz said. “This will certainly develop as these markets are showing impressive growth. We see the Far East as the direction of the future for Israeli diamond companies and we are working hand in hand with the industry to promote these efforts.”
The show takes place from March 5 to March 9 and will signify Israel’s focus on the Far East as its most promising business venture.
“China has evolved into an independent market for luxury goods and jewelry, with a great amount of wealth being created,” Ganz said. “In the coming years, we believe that China will become an important consumer of polished diamonds and we are focusing our marketing strategy on developing this as well as other markets.”