Israel Diamond Exchange Building Higher Profile

Reuters reported that this week, the Israel Diamond Exchange hosted a four-day show at which $2 billion worth of precious stones were displayed. The country hopes the endeavor will strengthen its position as a “major hub.”

As quoted in the market news:

Israel is already a key trading center and diamonds account for about 20 percent of all industrial exports. Manufacturing has dwindled, but trading has thrived, reaching an annual turnover of $25 billion.

Now it wants to expand its role.

The four-building exchange unveiled plans to triple its size, though it could take several years to get the necessary approvals.

Click here to read the full Reuters report.