Bahrain Follows Dubai in Cooperation with Israel Diamond Exchange

(IDEX Online) - Bahrain's stock exchange has signed a trade agreement with the Israel Diamond Exchange (IDE) following September's historic normalization of relations between the two countries.

Officials from the Bahrain Bourse visited IDE, in Ramat Gan, to sign a memorandum of understanding (MOU) aimed at creating commercial opportunities, especially in commodity-based assets.

The agreement comes just days after the opening of an office at IDE by Dubai's free trade zone, the Dubai Multi-Commodities Centre (DMCC).

Bahrain's minister of industry, commerce and tourism, Zayed R. Alzayani, who was at the MOU signing, said: "We are looking forward to capitalize on trade opportunities, especially in diamonds and we thank the Israel Diamond Exchange for exhibiting numerous avenues of cooperation between Bahrain and Israel."

Yoram Dvash, IDE president said: "We look forward to creating a dialogue with the Bahrain Bourse, to exchanging ideas and sharing information, and to exploring joint commercial initiatives. I am sure that this MOU will lead to economic opportunities for both sides."

Pic shows L-R (standing) Minister Alzayani, Mayor of Ramat Gan, Shama Hacohen, (seated) Yoram Dvash, Sheikh Al-Khalifa