Optimism And Hope At First Polishing Center Meeting

Israel Diamond Exchange (IDE) President Shmuel Schnitzer: “I am surprised at the widespread interest from bourse members. Manufacturers from the past and present are keen to return to manufacturing.”

The first meeting about the modern manufacturing center that the IDE wants to establish was held on in the harry Oppenheimer Museum which it turned out was not large enough for the hundreds of IDE members who came to hear first-hand about the new initiative aimed at boosting the Israeli diamond center.

The meeting was held in the presence of IDE President Shmuel Schnitzer, Industry Committee Chairman Yoram Dvash, who is leading the initiative, members of the management of the exchange and senior members of the Israeli diamond sector.

Schnitzer said, “I am surprised at the widespread interest from bourse members. Manufacturers from the past and present are keen to return to manufacturing.”

“Without manufacturing, there can be no diamond center here. The time and effort Yoram Dvash has invested in this project will serve the Israeli diamond trade for many years to come. There is no reason not to create manufacturing in Israel. Today, the salaries that we pay for the goods that we produce in Israel of two-carat stones and higher and dossier goods, are the same wages paid in world-leading production centers like India.

“A lot depends on what we do and our ability to create a generation of polishers in Israel. I want to thank everyone who helps this venture that currently is being funded from the budget of the IDE.

Industry Committee Chair Yoram Dvash said, "I and many others believe that if our center remains in its present form, with the simple buying and selling of polished diamonds, then we cannot survive for long.

“We must exploit our relative advantages in knowledge, relationships, and of course the basis on which the exchange was created: manufacturing. We have found a structure covering an area of 400 square meters here in the diamond bourse area of Ramat Gan, and we are inviting manufacturers of all types of stones and all sizes to join the new production center. The new center will make available to producers the latest state-of-the-art technological and manufacturing facilities.

In addition to these facilities, we will create study rooms for the teaching of diamond polishing skills for the next generation.”