Sign UpSign In
Newsroom Full Article

Dubai-Israel Diamond Trade Hits $1.75bn

March 15, 23 by John Jeffay

(IDEX Online) - Dubai's diamond trade with Israel increased by more than two-and-a-half times in 2022, up from $665.5m in 2021 to $1.75bn.

"These numbers highlight the blossoming and deepening relationship between the two countries and the diamond industry," said the Dubai Multi-Commodities Centre (DMCC), home to the Dubai Diamond Exchange.

Israeli diamond companies have been operating in the country since the Abraham Accords normalized relations in September 2020.

In 2022, the Israel Diamond Exchange opened an office in Dubai, and the Dubai Diamond Exchange opened an in Ramat Gan, Israel's diamond capital.

Ahmed Bin Sulayem, executive chairman and CEO of DMCC, said: "Over the past two years we have witnessed strong growth in Israeli companies setting up in our free zone, as they take full advantage of growing their businesses globally and the vertical integration we bring to the category. 

"As the trade relationship grows and matures between Israel and the UAE, we look forward to welcoming more business from Israel in diamonds as well as other key sectors."

Pic shows DMCC, home to the Dubai Diamond Exchange

Share |
Diamond Index
Related Articles

Dubai "to become World's Largest Hub for Rough and Polished"

June 14, 22 by

Read More...

Dubai Reports Record $19.8bn Trade in H1

August 30, 22 by John Jeffay

Read More...

Dubai's Diamond Trade Hits $37bn

February 20, 23 by John Jeffay

Read More...

Newsletter

The Newsletter offers a quick summary of the past week's industry news and full articles.