The Israel Diamond Institute (IDI) will hold its third International Rough Diamond Conference (titled Tribute to the Producers ) on February 11-12, 2008, in Tel Aviv.

The organizers expect the conference will attract a host of ministers from across Africa and representatives from major diamond producing companies.

“Greater efficiencies in the diamond value chain have prompted more diamond producers to market their rough diamonds through Tel Aviv. Producers have found that they can optimize revenue and enhance values by working directly with the manufacturers of gem-quality diamonds," said IDI chairman Moti Ganz.

Rio Tinto and ALROSA have both been holding tenders in Tel Aviv, Ganz said, and Diamdel has committed to keeping active in Tel Aviv.

"The stringent adherence by Israel to the Kimberley Process Certification Scheme and the soon to-be adopted Israeli diamond industry-specific anti-money laundering legislation, which will be among the strictest in the industry, are contributing to the producers’ confidence in Israel as a preferred manufacturing and trading center," he said.

Ganz said that the presence of Israel’s prime minister and the nation’s senior economic ministers at the Rough Diamond Conference will underscore the close relationship between industry and government, which has made Israel such an attractive enabling environment for the diamond industry and trade.

Eli Avidar, managing director for IDI, said annual imports are running about $5 billion per year and that in 2007 rough imports have jumped 20 percent so far.

“Israel’s state-of-the-art technology is sustaining our competitive advantage in the manufacturing of the high-quality goods, for which the market remains particularly strong. This conference is aimed at bringing the producers closer to the Israeli market and industry," Avidar said.

IDI plans to make additional statements on the upcoming conference as the date draws closer.