IDI opens Hong Kong office
July 09, 2007
Hong Kong—The Israel Diamond Institute (IDI) has opened IDI Asia Pacific Ltd., a representative office that is a key component of the Israeli diamond industry's Asia strategy.
Leading businesses, government and media attended the official launch reception today at the Hong Kong Bankers Club. IDI Asia Pacific is located in the AON China Building in Hong Kong's Central Business District, which includes major banks, multinational companies and retailers.
According to the IDI, Asian markets have become increasingly important for Israel, with Hong Kong now representing the industry's second largest market with about 16 percent of polished exports. Last year, Israel exported more than $985 million in polished diamonds to Hong Kong, up from $910 million in 2005. Israeli diamond companies are a fixture at trade shows in Hong Kong and 36 have permanent offices here.
"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," IDI Chairman Moti Ganz said in a media release.
Eli Avidar, managing director of the IDI, stated that IDI Asia Pacific would provide a bridge between the expertise of the Israeli diamond industry 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.
He noted that the IDI is honing in on the Chinese market with a number of initiatives announced last week. These include a Chinese-language diamond portal, an event in Shanghai and increased participation in trade shows in the region.
The new office will initiate promotional activity including conferences, seminars, telemarketing and public relations activities geared toward Hong Kong, Chinese and regional markets, said IDI Asia Pacific Managing Director Orly Yaffe.
IDI Asia Pacific Ltd. is located at 703, AON China Building, 29 Queen's Road Central, Hong Kong, (852) 252-26702/9, info@israeilidiamond.com.hk.
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