24 Feb 2022; MEMO: Israel Diamond Exchange (IDE) opened a representative office at Dubai Diamond Exchange (DDE) in Almas Tower, Dubai Multi Commodities Centre (DMCC) announced yesterday.
According to Emirates official news agency WAM, senior representatives and government officials from DMCC, World Federation of Diamond Bourses (WFDB), IDE and the Israeli Consulate in Dubai attended the inauguration of the IDE office.
The IDE office is set to increase the ease of doing business for Israeli diamond companies operating in or looking to set up in Dubai.
Opening the IDE office came one day after the the DMCC had announced that the UAE became the world's largest rough diamond trade hub, with $22.8 billion-worth of rough diamonds traded last year.
The UAE signed a normalisation deal with Israel in September 2020.
