A delegation from China visited the Israel Diamond Exchange (IDE) on Tuesday (July 4). The delegation was headed by Weng Zuliang, Party Secretary for the Pudong District and VP for the Free Trade Zone in Shanghai; and Lin Qiang, President of the Shanghai Diamond Exchange.
The delegation was hosted by leaders of the Israeli diamond industry, among them Executive VP for IDE Yehezkel (Hezi) Blum, standing in for IDE President Yoram Dvash, who is abroad; Israel Diamond Institute (IDI) Chairman Shmuel Schnitzer; Diamond Comptroller Shmuel Mordechai; Honorary Lifetime President of the WFDB Eli Izhakoff; and Board members of the IDE.
Blum welcomed the delegates and said: “The IDE is a veteran, respected institution, celebrating its 80th anniversary this year. Our bourse is run like a small country, with 16 directors and committees administrating all different management facets of the bourse”.
Party Secretary for the Pudong District and VP for the Free Trade Zone Weng Zuliang commented: “It is an honor to visit Israel and the IDE in particular, a bourse which plays an important role in the industry. I cleared my schedule to be able to come here and see the IDE for myself, and even rejected offers to visit other places. This is our first visit here, and I feel so welcome by you all, and that I have made new friends. It is an honor”.
Weng spoke about the Pudong District, a major business and finance district in Shanghai: “The Free Trade Zone of Pudong enables many foreign companies to bring their business into China, and conduct it more freely”, he explained.
President of the Shanghai Diamond Exchange Lin Qiang said: “Today’s visit is an opportunity to meet all the important people in your industry. We see each other at international shows, but this is the first time we get to meet in this forum. I want to express my appreciation for your support in establishing the Shanghai Diamond Exchange, especially Shmuel Schnitzer and Eli Izhakoff, who were members of the consulting committee and contributed to our success. Thank you for that and for your warm welcome”.
IDI Chairman Shmuel Schnitzer welcomed the delegation and said: “We’re happy to have you here. The relationship between the IDE and our colleagues in China began long before the establishment of the Shanghai Diamond Exchange. As part of the planning process, the Chinese government sent representatives to study the way we work here. I think they did good work, as is evident by the activity of the Shanghai bourse”.
Diamond Comptroller Shmuel Mordechai said: “China and Israel are members of the KP Process, and cooperate in the implementation of it. We had a KP delegation visit us last week, including representatives from China. The diamond trade has been going through some challenges recently, and the Israeli government, which recognizes the importance of the industry and wants to see it succeed, plans to establish a committee which will focus on promoting the trade”.
Honorary Lifetime President of the WFDB Eli Izhakoff welcomed the delegates, and spoke about the early days of the Shanghai bourse. IDE Board members then introduced themselves and spoke about the work of the different committees they head.
At the end of the visit, gifts were exchanged between the parties.
