The Israel Diamond Manufacturers Association (IsDMA) has elected its outgoing President Moti Ganz to the position of elected Honorary President in recognition of his work on behalf of IsDMA during his tenure as President. He was elected at IsDMA’s annual general meeting.

Ganz said: “I am leaving the position of President of IsDMA after seven years of intense effort. I will continue to work on behalf of the Israeli Diamond Industry as IDI Chairman, as President of IDMA and as Honorary President of the organization that is so close to my heart.” During his seven year tenure as President, he worked position the Israeli Diamond Industry as a global center for trade in rough and polished diamonds, and his stance advising manufacturers against buying rough diamonds at too high a price. “The belief that polished prices would always rise and close the gap with rough was wrong. I would have been happy to be mistaken but unfortunately I was right,” he said. Ganz also worked towards continued bank financing for the industry during the global financial crisis, and promoted open dialogue with the DTC, enabling non-sightholders to attend annual meetings with the key rough diamond supplier. He also announced the opening of a GIA Center in Israel, including laboratory services, educational programs and research activities.

Moti Ganz was active in IsDMA since 1989, when he was elected to its executive board, and served as deputy president of the association from 2001 to 2002.