IDI prepares for biggest participation at HK International Jewellery Show

The Israeli Diamond Industry (IDI) is preparing to participate at the upcoming Hong Kong International Jewellery Show, in its biggest scale so far. The Israel Diamond Pavilion will be the largest national pavilion at the show, with 60 companies including 20 first time exhibitors at the HK International Jewellery Show, in addition to 20 companies who would be spread across the event venue.

Amongst other the preparations, the IDI will provide an information booth within the pavilion to disseminate background on the Israeli diamond industry, an online mini-site posted on the IDI portal site with contact details of all Israeli exhibitors, including those not participating in the pavilion, and their location map at the show.

The Israel Diamond Industry has been viewing Asian markets as potential for business expansion. IDI Chairman Moti Ganz said that now more than ever, Hong Kong, as the gateway to the Far East, is a major focus for the Israeli Diamond Industry. “For many years we have developed excellent relations with diamond companies in Hong Kong and other parts of the Far East. This will certainly develop as these markets are showing impressive growth. We see the Far East as the direction of the future for Israeli diamond companies and we are working hand in hand with the industry to promote these efforts.” Hong Kong is Israel’s second largest market for polished diamonds accounting for 26 percent of the country’s polished diamond exports in 2009. In 2009, net exports of polished diamonds to Hong Kong stood at $1.043 billion.

IDI Managing Director Eli Avidar added that he was very optimistic 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.” IDI had been expanding its presence in Hong Kong with a representative office and had launched its Chinese-language portal site as a vehicle for facilitating direct contacts between these countries. The Hong Kong International Jewellery Show is scheduled to be held between March 5 – 9, 2010.