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DDE and IDE sign cooperation agreement



In the wake of normalisation of relations between Israel and the UAE, Dubai Diamond Exchange (DDE) and Israel Diamond Exchange (IDE) have signed a strategic agreement to promote cooperation and bilateral trade between the two Middle East’s major diamond hubs.


Under their agreement signed during a virtual conference (photo), IDE will open a representative office in Dubai and Dubai Multi Commodities Centre (DMCC) will set up one in IDE’s headquarters located in Ramet Gan, Tel Aviv. The two parties will share experience and knowledge, work to promote bilateral trading opportunities, collaborate on exhibitions, visits and conferences and promote collaboration between IDE members and DMCC members. They also agreed to arrange an Israeli-Dubai diamond fair to be held in Dubai and Ramat Gan.


Ahmed Bin Sulayem, head of the DMCC and chairman of the DDE said the agreement “will attract businesses to the emirate as well as boost the regional and international trade of this precious stone.”

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