Israel Firms Planning Big Push at Hong Kong Fair
September 13, 04 by Albert Robinson
Israel's diamond industry is planning a major presence at the September 19-23 Hong Kong Jewellery & Watch Fair - the largest jewelry show in the Far East.
Israel will have its largest-ever contingent at the show, with 41 manufacturers and exporters exhibiting within the Israel Diamond Pavilion, and 10 other companies located elsewhere at the exhibition.
The Israel Diamond Institute (IDI), organizers of the Israeli industry presence, has invested greatly in both pre- and in-show marketing programs for the fair since Hong Kong is regarded as the gateway to the Far East, a vital target for Israeli diamantaires.
The Far East has been a major consumer of Israeli diamonds for more than 20 years. Last year, Hong Kong accounted for around 12 percent of Israel's polished diamond exports, totaling $1.06 billion, while exports to China amounted to $91 million.
Israeli firms are hoping substantial deals will be signed with their Chinese counterparts following a successful high-level diamond mission to China in June which included representatives from 22 leading diamond companies.
"The Far East is one of our most important and rapidly growing markets. For us Hong Kong has traditionally been the gateway to Asia, and that's why we have placed great emphasis on our participation in this show,” said Israel Diamond Institute Chairman Simcha Lustig.