Israel To Host 2015 WFDB Presidents Meeting

Israel Diamond Exchange (IDE) President Shmuel Schnitzer made the comment at the conclusion of the 36th World Diamond Congress in Antwerp which closed today (Wednesday).

Israel Diamond Exchange (IDE) President Shmuel Schnitzer said that Israel will host the World Federation of Diamond Bourses (WFDB) Presidents Meeting in 2015.

Meanwhile, IDE General Manager Moti Besser outlined to the WFDB the work of the exchange and its future plans

Besser told WFDB members of the stringent approval process that new members of the bourse have to pass as part of its Corporate Social Responsibility procedures.

He also mentioned the exchange's recently started moves to create a Code of Ethics for exchange members.

Besser warned, however, against excessive regulation if the diamond industry which could prevent the trade from working to its full potential.

He also told WFDB members from across the world about the IDE's plans to create a manufacturing center near the Ramat Gan diamond exchange.

He explained that the modern manufacturing plant would also include technical and gemological services in a modern work environment that would save manufacturers money. He said the manufacturing center was due to be opened at the end of this year.

Besser also spoke of the need for intra-bourse cooperation and efforts to promote it. In this respect he spoke of the Israel Diamond Week events that the IDE has organized in the past two years.

The next International Diamond Week in Israel will take place at the start of September and, in addition to a delegation from the DDC in New York, there will be a delegation from the Antwerp Diamond Bourse (Beurs voor Diamanthandel), Belgium's largest bourse.

"The aim is to create added value for our members at zero cost," Besser explained.

Meanwhile, the Dubai Diamond Exchange will host the 2016 World Diamond Congress.