Qatar and Israel Reach Diamond Agreement
November 29, 21
(IDEX Online) - Qatar and Israel have reached a commercial agreement allowing diamonds to be traded between the countries, even though they don't have diplomatic relations.
The move, reported by the Globes business news website, allows Israel diamond traders to enter the country and set up representative offices.
Oil and gas-rich Qatar, one of the world's wealthiest countries, opposed last year's Abraham Accords, which saw Israel normalize relations with the UAE and Bahrain, and has boycotted Israel since the Gaza war in 2009.
But according to the Globes report, relations are thawing and further trade agreements are expected.
Qatar is planning a free trade zone for gold and precious stones and gold, and a diamond exchange, on the Dubai model.
The Israel Diamond Exchange has reportedly welcomed the agreement to open up a new market.
Qatar will attract global media interest as it hosts the 2022 FIFA World Cup next November.
Pic shows Doha, capital of Qatar.