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During the twentieth century various attempts were made to develop the diamond industry
in Israel - in the main by Belgian Jews.
When the skies of Europe began to cloud
over, and Belgian Jews began immigrating to Israel,
the diamond industry in Israel started to bloom.
1937 is generally referred to as the starting point
of the diamond industry in Israel. Towards the end
of 1939 many Jews in Belgium and Holland decided
to liquidate their businesses and immigrate to
Israel. In 1940, when the lowland countries fell into
Nazi hands, the waves of immigration increased.
Diamond manufacturers and entrepreneurs came
to Israel, established diamond factories, employed
many refugees and developed the method of
processing diamonds in stages with each worker
specializing in one particular 'phase'. Gradually,
many immigrants from Asian and North African countries joined the diamond industry. The close
relationship between the Belgian and Israel Diamond industry continues to exist both due to the business connection, with Belgium serving as an important source of rough diamonds, and because of family ties. Many diamond companies have offices and representatives both in Belgium and in Israel.
Israel has arrived at its current status as one of the foremost diamond industries in the world (with exports for the year 2000 totaling about 5.3 billion dollars) by virtue of its diamanaires' expertise and its ability to acclimatize to varying conditions. Diamond factories in Israel are considered the most advanced worldwide due to their computerized processing technologies which assist in making decisions for processing stones. Most of the diamond factories are concentrated in the Ramat-Gan and Natanya areas, and other towns.
The Israeli diamantaires' modern methods of operation enable them to offer buyers a most extensive range of diamonds of every type and size. The business transactions of the Israeli diamantaires are conducted in the diamond exchange buildings which comprise 1,200 diamantaire offices, the large, spacious and most modern trading hall in the world for trading in polished diamonds, a trading hall for rough diamonds, and all the associated services required for the trade, from customs offices, banks, postal agency, shipping and insurance agents, to restaurants - all under one roof.
Three organizations manage the Israel
Diamond Industry and Trade interests: The
Israel Diamond Exchange, which counts
approximately 2400 members and concerns itself with the orderly day-to-day running of the trade, including the unique arbitration establishment; the Israel Diamond Manufacturers' Association, which looks after the manufacturers' interests; and the Israel Diamond Institute which houses all the other relevant associations in the industry.
Shmuel Schnitzer
President
Israel Diamond Exchange Ltd.