Image credit: IDE
The Dubai Multi-Commodities Centre (DMCC) officially opened its new representative office on November 30 in the Israel Diamond Exchange (IDE) complex in Ramat Gan. The DMCC Executive Chairman and Chairman of the Dubai Diamond Exchange Ahmed Bin Sulayem and DMCC Special Adviser Martin Leake arrived to open the office on the first regularly scheduled flight from the UAE to Israel.
The ceremony was attended by Yoram Dvash, President of the Israel Diamond Exchange, Ramat Gan Mayor Carmel Shama Hacohen, Diamond Controller Ophir Gur, President of the Israel Diamond Manufacturers Association Nissim Zuaretz, the IDE board, honorary presidents and other diamond leaders.
The new office will assist Israeli businesses from all industries and sectors interested in setting up a presence in Dubai; and the DMCC will seek to boost trade and business opportunities between Dubai and Israel.
Ahmed Bin Sulayem said: "This is an exciting new chapter in the trade story of the United Arab Emirates and Israel, and one that will usher in a new wave of Israeli enterprise through Dubai. The decision for DMCC to open a representative office in Tel Aviv was a simple one. There has been an unprecedented level of interest from Israel in doing business in, with and through Dubai – especially in diamonds. Our expert team in Tel Aviv will work hard to support Israeli companies of all sizes and sectors take advantage of the world-class connections, services and infrastructure available through DMCC. We look forward to welcoming Israeli businesses to our innovative business hub and thank the Israeli Diamond Exchange for exhibiting the true spirit of collaboration.”
Yoram Dvash, President of the Israel Diamond Exchange and the World Federation of Diamond Bourses (WFDB), said, “This is a historic step that opens up vast economic opportunities for Israel in a whole range of areas, especially diamonds. The Israel Diamond Exchange was the first to identify the enormous potential of mutual cooperation with the DMCC. Till now trade between Israel and Dubai needed to be conducted through a third party. The opening of the DMCC's representative office in our complex will make it much easier to conduct business with Dubai and will enable us to build a business bridge to the entire Gulf region. Our collaboration will bring enormous value to both sides and to the global diamond industry.”
The Israel Diamond Exchange intends to open a representative office in the Almas Tower in Dubai, where the DMCC is located and will consider additional mutual projects with the Dubai Diamond Exchange.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
