The Israel Diamond Institute reaffirmed its commitment to promoting cooperation between the diamond industries of Israel and China at the 2007 China International Diamond Conference taking place in Shanghai.

In his speech at the two-day conference on Wednesday, IDI Managing Director Eli Avidar cited the similarly long traditions that characterize both the people of China and Israel, and IDI’s dedication to strengthening the ties between the two countries.

“The Israel Diamond Institute has embarked on a strategic partnership with the Chinese diamond industry, which underscores our belief in the huge potential that this market has to offer.”

Avidar said that an indication of the importance IDI attributes to China are the several Chinese language courses for industry members that it has already opened and which are oversubscribed.

Avidar said that since the launch of its China initiative in July, IDI’s efforts in China have been gathering momentum. In addition to the Asia-Pacific office opened in Hong Kong, IDI now has an official representative in Beijing. “These representatives serve as vital liaisons between Israeli diamantaires and the local industry,” he said.

To enhance cooperation, Avidar said, IDI was determined to learn about the complex Chinese market and to dedicate the considerable effort required to build viable markets

“We will also need to promote the perception of diamonds as a product of value over the traditionally popular jade. We will continue to advocate the great value of the diamond as a worthwhile investment,” he said.

JCK