Israeli Diamond Industry Heads to Hong Kong

Officials representing the Israeli Diamond Industry say they are looking forward to making a major impact at the Hong Kong Jewellery & Watch Fair this September.

The Israel Diamond Institute-sponsored Israel Diamond Pavilion, in its new location at Expo Hall Drive at the Convention Center, will host 40 companies, and an additional 17 will be exhibiting independently. IDI will have information booths at EA10 and EA19, where buyers can receive background on the Israeli industry and help in finding companies in the Israeli pavilion.

An online mini-site, which can be accessed through the IDI Web portal enables buyers to virtually visit the diamond pavilion before the show. The mini-site includes contact details of all Israeli exhibitors, as well as a map indicating their location at the fair.

Hong Kong is the second largest market for Israel’s polished diamond exports, and industry leaders see Asia, and Hong Kong as its gateway, as the major growth market for Israeli polished diamond exports in the future. In July, IDI officially declared Asia to be a top priority for the Israeli diamond industry and launched a strategic campaign in the region. This includes the opening of a Hong Kong representative office, IDI Asia Pacific Ltd., located in the city’s Central Business District, as well as the inauguration of a diamond portal site in Chinese

Israel’s diamond sales to the Far East, and especially to Hong Kong, are showing steady growth. Today more than 16 percent of Israel’s polished diamonds are exported to Hong Kong, and these stood at close to $1 billion in 2006.

“The potential of the Asian market, and particularly that of Hong Kong and China, is enormous, and represents the future direction for The Israeli Diamond Industry. Israel’s excellent and long standing relations with key companies in Hong Kong is of major importance in growing our exports to these markets,” said Moti Ganz, IDI chairman.