ALSROA and IDE met in at a meeting held between representatives of Alrosa, headed by its president, A. Nichiporuk and a delegation from Israel Diamond Exchange headed by its president Avi Paz on November 28, 2005. The issues discussed were development of cooperation between ALROSA and Israeli diamantaires starting with trade of Russian diamonds to Israel, to cooperation in the Kimberley process, to finding ways of using the framework of the Intergovernmental Commission on economic and trade cooperation between Russia and Israel to promote relations in the diamond sector. Among other issues were challenges posed by synthetic and treated diamonds (HPHT), as well as the issue of maintaining consumer confidence in natural diamonds.

Trade in rough diamonds between Russia and Israel is increasing continuously. Israeli companies actively participate in trade operations with diamonds in the Diamond Chamber of Russia (DCR) since its creation in 1999. During the negotiations the management of the IDE expressed Israeli diamantaires’ commitment to higher volumes of rough diamonds to be bought from the Russia. ALROSA and representatives of Israeli diamond business have established direct contacts through the ALROSA representative office in Israel, which will be entrusted soon with commercial functions. Different forms of diamond deliveries are being considered which could be organized through tenders in Israel and Russia, or regular buyers, or in other forms.

With a view to promote the above areas the parties agreed to continue the activity of the joint working group between ALROSA and the Israeli diamond industry. "My meetings with both the President of Alrosa and the President of the Russian Diamond Bourse were excellent and should have far reaching implications regarding the future cooperation between Russia and Israel. One of the main practical outcomes is turning Alrosas long existing representative office in Israel to be commercially active, which will play a major role in bringing rough to Israel" said, Avi Paz, President, IDE.