Asaf Catran, Business Development Manager of the IDI office in NYC, presented the goals and the services of the office to a large audience of Israeli diamond dealers in Ramat Gan on December 28th, 2005. Present during the presentation was Avi Paz, President of the Israel Diamond Exchange and other key figures of the industry. Shmuel Schnitzer, President of the World Federation of Diamond Bourses and Chairman of the IDI PR and Marketing Committee, delivered brief greetings, in which he elaborated on the rationale and objectives behind the opening of the IDI office in New York.

The office will also work towards promoting the Israel diamond industry in the US market and assists US diamond buyers who want to buy goods from Israel.

“The main goal of the IDI when it decided to open a New York office was to assist Israeli diamond companies reaching out to buyers in the U.S.,” said Catran who claims that this is the crowning glory of the representation in New York. The office will assist in launch of Israel Diamond Industry brand later in 2006. Catran called upon Israeli diamond dealers to visit the office, which is located in the strategic location of 576 Fifth Avenue, opposite the New York Bourse building. It offers a variety of services, such as internet facilities, guidance and assistance in marketing matters and general conduct in the American market.

“Marketing in our industry has undergone through a transformation during the past 3-4 years. This change in direction began with the introduction of Supplier of Choice by De Beers and the security situation in Israel that lead to a significant decrease of international buyers visiting Israel. These factors led to the opening of many Israeli diamond marketing offices abroad,” said Schnitzer. He also added that the IDI is drawing up plans to open an additional similar representative in Hong-Kong in the future.