As with every year, the Israel Diamond Exchange celebrated the festival of Tu B'Shvat with a toast and blessings. IDE President Yoram Dvash in his first speech since the election, greeted the participants and updated IDE members on the situation of the bourse and diamond industry.
The IDE held a Tu B'Shvat ceremony in the exchange's rough trading hall, presided over by Yoram President, with the participation of board and IDE members.
"A few weeks ago, the year 2015 ended. This was one of the most difficult and complicated years the diamond industry has ever known," he said in his first speech since he was elected to the post. The President addressed the state of the global diamond sector and added that: "The global economy is still paying the price of the economic crisis of 2008, and the diamond sector all over the world is feeling it. However I believe that we are in a new era and already feel an improvement in markets."
On the subject of arrangements with the tax authority, he said that: "The advisers that we had in the past did not manage to advance the issue and we are meeting with new ones and looking for new approaches to dealing with the issue.
"We can't do the same things we did in the past and then believe we will have a different result. Together with my colleague, the President of the Israel Diamond Manufacturers Association, Kobi Korn, we're turning every stone in order to bring about a better solution."
Dvash also spoke about the work of the new management. "The new management is working – and may it have continuing strength – to work for the new members. We check each contract and consultant in order to provide improved conditions. An example is the appointment of Israel Diamond Institute Managing Director Eli Avidar as Managing Director of the Exchange.
"This step will lead to cost savings, increased efficiency, coordination between the bodies and, most importantly, results. The Israel Diamond Exchange, the Israel Diamond Institute and the Israel Diamond Manufacturers Association are jointly working for the benefit of the industry and we will join forces to serve the diamond sector and you, the diamantaires," he said.
"This time, we are combining jewelers with polished goods sellers and we are already seeing the result in an increasing number of participants. I call on all members to invite your customers to the diamond week and help it succeed even more. I hope this week will bring income to our members. I'm optimistic."
At the end of his speech, Dvash thanked board members for their hard work and the chairman of the Culture Committee, Jacob Heron Sheli, for organizing the Tu B'Shvat event.
