“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” said Moti Ganz –the Chairman of the Israel Diamond Institute. To build its presence in the market, the IDI intends to open IDI Asia Pacific Ltd., - a representative office in Hong Kong representative office, and launch a diamond portal site in Chinese.

The Israel Diamond Pavilion (sponsored by the Israeli Diamond Industry) at the Hong Kong Jewellery & Watch Fair, to be held in September, is slated to host 40 companies, and another 17 independent exhibitors. Such intense participation comes as no surprise as Hong Kong is considered the second largest market for Israel’s polished diamond exports, with Asia being a top priority market for Israel according to the IDI. Israel exports over 16% of its polished diamonds to Hong Kong, which valued nearly $1 billion in 2006.

IDI Managing Director Mr. Eli Avidar mentioned that IDI would focus on expanding its trade show exposure in Hong Kong, participating in two shows in Hong Kong and two in Shenzhen and Shanghai. The IDI has planned to participate in a trade show in Macau in 2008.