The official opening ceremony to flag off the Summer Edition of the International Diamond Week in Israel (IDWI) took place on Monday, August 31, 2015.

The Guest of Honour, Israel Trau, CEO of Union Bank, dwelt on his bank's longstanding relationship with the Israel diamond business community and stressed that the Israel diamond industry and Union Bank “could look forward to many more years of fruitful cooperation”, said a press release from the Israel Diamond Exchange (IDE).

At the ceremony,   IDE President Shmuel Schnitzer honoured the outgoing President of the Antwerp Diamond Bourse, Marcel Pruwer, with an honorary IDE membership “in recognition of Pruwer's valuable contribution to the fruitful cooperation between the Belgian bourse and the IDE”, said the organisers.

Other speakers during the opening ceremony included IDE Deputy President Kobi Korn; David Lasher, General Manager of the Diamond Dealers Club of New York and last but not least Norayr Isler, Chairman of the board of directors of IKO, Istanbul Chamber of Jewelry, who is heading a sizeable delegation of Turkish buyers.

The five-day event has the participation of some 300 Israeli, Belgian, American and Indian companies. The organisers expect buyers and  members of the Israel Diamond Exchange (IDE) to attend in multiples of hundred. “The total amount of goods on display is estimated to surpass the billion dollar mark,” said the organisers.

The  IDWI is organised by the IDE, in close cooperation with the Diamond Dealers Club of New York (DDC), the Antwerp Diamond Bourse (Beurs voor Diamanthandel), and, for the first time, also with the Bharat Diamond Bourse (BDB).  All exchanges will be represented by delegations of their members on the IDE trading floor at the event.

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Union Bank CEO Israel Trau addressing the audience during the opening ceremony of the International Diamond Week