Schnitzer believes that improvements in various regions of the world together with a more correct policy by mining companies and cooperation between all stakeholders will bring about a positive turning point this year.
Shmuel Schnitzer, the honorary president of the Israel Diamond Exchange, was elected Chairman of the Israel Diamond Institute (IDI) on Monday.
He will replace Moti Ganz as head of the IDI.
Shmuel Schnitzer thanked all those who are helping to promote the Israeli diamond industry. "The role is very challenging, especially at a time when the diamond industry is at a standstill.
"However, there is no doubt in my heart that thanks to the improving economic situation in major regions of the world, a more correct policy by mining companies and cooperation between all stakeholders will bring about a positive turning point this year and much better business conditions."
