(From left) Eli Avidar, Managing Director of the IDI Group; InvestHK’s Mike Rowse; Dan Ben-Eliezer, Consul General of Israel in Hong Kong and Orly Yaffe, Managing Director, IDI Asia Pacific Limited

The Israel Diamond Institute (IDI) opened a representative office in Hong Kong, a move seen as a vital element in IDI's new Asia-focused strategy.

IDI Chairman, Moti Ganz, said: “The potential of the Asian market, and particularly that of Hong Kong and China, is enormous, and represents the future direction for The Israeli Diamond Industry. We have built up excellent long-standing relationships, based on loyalty and trust, with the Hong Kong diamond and jewellery industry. Hong Kong is the gateway to Asia and is of foremost importance to our industry.”

IDI Managing Director, Eli Avidar, said that the local office, IDI Asia Pacific Limited, would act as a bridge between The Israel Diamond Industry's know-how, creativity and tradition, and the needs of the Asian market. “We believe that a foothold in Hong Kong will enable us to take our business relationships here to the next level, and to effectively target China and other Asian markets,” he said.

Steady growth

Mr. Avidar also stated that IDI is currently focusing on the Chinese market in other ways. Last week, IDI officially launched its own Chinese-language diamond portal in an event in Shanghai. The portal offers tools to Chinese diamond and jewellery trade members to create direct business links with Israeli companies, and invaluable information on the industry. In addition, Avidar said that IDI had expanded its trade show exposure in China in 2007, participating in shows in Shenzhen and Shanghai, as well as two in Hong Kong. In 2008, IDI will also participate in a trade show in Macau.

Business between The Israeli Diamond Industry and Asian markets has been on a steady growth path over the past several years. Today, Hong Kong represents the Israeli Diamond Industry’s second largest market, accounting for about 16% of polished exports. In 2006, Israel exported more than $985 million dollars worth of polished diamonds to Hong Kong, increasing from $910 million in 2005. Dozens of Israeli diamond companies regularly participate in trade shows in Hong Kong and thirty-six maintain permanent offices there.

IDI Asia Pacific Managing Director Orly Yaffe said that the Hong Kong office will initiate promotional activity – organising conferences and seminars, telemarketing, and engaging in public relations activities geared to Hong Kong, Chinese and regional markets. “We will provide marketing information and facilitate business contacts for Asian and Israeli companies, services which can be invaluable in promoting bilateral trade,” she said. Source: Invest Hong Kong  

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The Israel Diamond Institute