The World Diamond Industry Is Reaching Out To Panama

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19th October 2009, 11:22pm - Views: 745






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MEDIA RELEASE PR36652


The World Diamond Industry is Reaching Out to Panama


RAMAT GAN, Oct. 19/ PRNewswire-AsiaNet/ --


    

    - IDI Managing Director Eli Avidar : We Are Seeking the South American 

Hong Kong


    On October 13, 2009 an international delegation of leaders from

the diamond world held an historic meeting with the President of Panama,

Ricardo Martinelli The meeting was attended by Israel Diamond Institute Group

of Companies (IDI) Managing Director Eli Avidar, Israeli Ambassador to Panama

Yoad Magen, the Chairman of the World Diamond Council (WDC) Eli Izhakoff, and

the President of the Diamond Dealers Club of New York (NYDDC) Moshe

Mosbacher, NYDDC Managing Director Martin Hochbaum, and President of the

Panama Diamond Exchange Erez Akerman.


    During the meeting the diamond leaders brought up the need for

Panama to pass legislation enabling diamond trade and tax exemptions within

its borders.


    Avidar stated at the meeting that the diamond trade in South

America is currently not organized and in certain cases is problematic. He

stated that the Israeli Diamond Industry is seeking a base from which it can

expand activities to South America. Avidar said that it was imperative that

such a base must have have strict rule of law, a stable government, and a

well established local Jewish community. He said : << We are looking for the

South American equivalent of Hong Kong. We believe that Panama can serve as an

ideal base for Israeli Diamond Industry activities in South America, just as

this country acts as a free-trade zone for other products. >>


    President Martinelli said that he welcomed the collaboration with

Israel in the diamond sector and said that members of the Israeli diamond

industry would be welcome guests in Panama. The president also promised that

the Panama government would take the necessary legislative steps to bring

about a bureaucracy-free diamond trade.


    During the meeting the issue of Panama's need to join the

Kimberley Process was discussed, as was the need to pass legislation so that

the Panama Diamond Exchange can be granted free-trade zone status for

diamonds, as well as tax exemption of diamond exports from Panama to the rest

of South America.


    Avidar presented President Ricardo Martinelli membership in the

IDI League of Honor, Membership in the League is awarded by IDI to heads of

state as a token of esteem for their efforts in enhancing their countries's

relationship with the Israeli Diamond Industry.

    

    Contact: Sharon Gefen

    Tel: +972-3-5442999, +972-54-4494494

    E-mail: sharon@gefenltd.com


    SOURCE: Israel Diamond Institute



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