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IDI to make strong participation at HK Show
HK was Isarel's second largest market for polished diamond exports in 2010
By: Diamond World News Service
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Feb 24 2011 11:58AM
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Reference: 5768  

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The Israeli Diamond Industry is focused on further tapping growth in Asian markets, and is making a strong representation at the Hong Kong International Jewellery Show. As IDI Chairman Moti Ganz describes, ‘Hong Kong is the gateway to the Far East’. The Show is slated March 4 -- 8, 2011, where 61 Israeli diamond companies will be participating at the Israel Diamond Pavilion, organized by the Israel Diamond Institute Group of Companies (IDI), besides 20 other Israeli companies in various locations throughout the show.

The Israel Diamond Pavilion will strategise in informing about the Israeli diamond industry. The IDI has dedicated a mini-website within its IDI portal to brief buyers about the participating companies and allow them to visit the pavilion virtually and a map indicating the location of the pavilion and the other Israeli companies outside the pavilion.

Moti Ganz stated that “The Israeli Diamond Industry has been an active trading partner for diamond companies in Hong Kong for many years, and we have developed excellent relations here and other parts of the Far East. We see Asia as a most important target market for Israeli diamond companies and we are working together with the industry to promote these efforts.” IDI Managing Director Eli Avidar expressed optimism about the medium and long term prospects for Asian markets. “China has evolved into an independent market for luxury goods and jewellery, with a great amount of wealth being created. In the coming years we believe that China will become an important consumer of polished diamonds, and we are focusing our marketing strategy on developing this as well as other markets.”

The IDI has already created a presence in the markets in Hong Kong, with its office in Hong Kong and its Chinese-language portal site.

Last year, Hong Kong received 25 percent of Israel’s polished diamond exports, making it the country’s second largest market. Israel’s net exports of polished diamonds to Hong Kong stood at $1.487 billion last year.

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