Israel Extends Helping Hand to Turkey for Setting up World-Class Diamond Polishing Industry

The Israeli diamond industry is taking a keen interest in harnessing the many advantages that Turkey offers for the trade of precious stones. Leading players in this market from Israel find that Turkey’s proximity to both Europe and Arab countries puts it in a unique position to set up what could potentially be an extremely remunerative industry. It is with this view that Israel Diamond Exchange will help Turkey establish a wider diamond industry, according to a report in Globes recently.
According to senior VP of the Israel Diamond Exchange, Jacob Kattan, if Israel doesn’t take a lead on this front, there are several other contenders waiting to take advantage of this lucrative business opportunity. In this arena, Israel views countries such as South Africa and India as key competitors. He stated that players in the jewelry industry in Turkey do appreciate Israel’s interest as well as capabilities. The countries hope that they will soon be able to collaborate and set up industry-leading diamond polishing establishments.
The invitation that was sent out by the IKO-the largest organized group of Turkish jewelry businesses—was accepted by about 20 diamond merchants from Israel. The IKO, which comprises over 3,000 members, had extended an invitation to Israeli diamond merchants to partake in an international jewelry exhibition in the country’s capital, Istanbul.
The Israeli jewelry merchants said that they were impressed by the determination exhibited by Turkish authorities to develop the domestic diamond industry not just to earn revenues, but also to help create more employment. It is important to note at this point, that while the Turkish jewelry industry is regarded among as a world-leading entity, Turkey still heavily relies on countries such as India, Israel and Belgium to import polished diamonds.
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Rohit Bhisey

An AVP at the Marketing department at Transparency Market Research, Rohit has his fingers firmly placed on the pulse of the business world. He has a keen eye for any new development that could rock our world. He is adept at strategizing to boost web traffic and generate new leads. He is also an expert in Google Analytics, something which he feels could go a long way in getting sites more traction by providing necessary insights. Rohit is a Bachelor in Computer Science from the Pandit Ravishankar Shukla University and takes keen interest in writing news articles on technology, business, and healthcare.

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