Israel Diamond Exchange sets up representative office in Dubai

Dubai: A representative office of Israel Diamond Exchange (IDE) has opened at Dubai Diamond Exchange (DDE), the DMCC announced on Wednesday.

The opening at Almas Tower comes a day after DMCC announced that the UAE has become the world’s largest rough diamond trade hub, with $22.8 billion worth of rough diamonds traded in 2021.

Senior representatives and government officials from both countries, including Ahmed Bin Sulayem, Executive Chairman and CEO, DMCC; Ilan Shtulman, Consul General of Israel in Dubai; Boaz Moldawsky, President, IDE; Eran Zini, Managing Director, IDE, among others, were present at the inauguration ceremony of the office, which is set to increase the ease of doing business for Israeli diamond companies operating in or looking to set up in Dubai.