Dubai – Mubasher: DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, has officially opened its representative office in Israel’s Tel Aviv.
Based in the headquarters of the Israeli Diamond Exchange (IDE), the new office will support Israeli businesses, from all industries and sectors, interested in setting up a presence in Dubai and DMCC’s award-winning Free Zone, according to a press release.
The announcement comes after a landmark collaboration agreement between Dubai Diamond Exchange (DDE) and IDE was penned in September 2020. It is set to boost diamond trade between Dubai and Israel, among other sectors such as technology, innovation, and energy.
“This is an exciting new chapter in the trade story of the UAE and Israel, and one that will usher in a new wave of Israeli enterprise through Dubai,” said Executive Chairman and CEO of DMCC, and Chairman of the DDE, Ahmed Bin Sulayem.
For his part, President of the IDE and the World Federation of Diamond Bourses (WFDB), Yoram Dvash, said: “Having the DMCC representative office in the IDE complex will enable us to work together to realise the full potential of the Israeli Diamond industry. Dubai, with its Free Zone and convenient working conditions, has become one of the world’s leading diamond centres, and our collaboration will bring enormous value to both sides.”
As ties strengthen following the signing of the UAE-Israel Peace Accord, daily flights will connect the two diamond hubs, Dubai and Israel, and UAE nationals will be able to obtain a visa on arrival in Israel, the statement said.