Israel Diamond Exchange's (IDE) president, Shmuel Schnitzer, addressed the WFDB and IDMA presidents meeting in Tel Aviv. He said that, "In Israel, we have an annual turnover of over $20 billion. We are leaders of the diamond world in technological development for manufacturing and online marketing. We recently set up a model factory, where we make cutting-edge, advanced machinery available to all manufacturers in our industry. A young generation is joining the ranks of those involved in the industry, and indeed, the potential in Israel is endless."
He also pointed out the challenges to the realization of that 'endless potential', namely: profitability, finance and transparency, and a transparent price list, as well as the current problem discovered at the Gemological Institute of America (GIA) Israel involving the suspicion of temporary color treatment.