Diamond companies in Israel have now a clear way paved to export their products to countries such as Indonesia and Malaysia and such states where Israel has no diplomatic relations, as per reports. This comes after the recent signing of an MOU between Israel Diamond Exchange and the Jewellery Manufacturers Association of Hong Kong (HKJMA) at the recent International Diamond Week in Israel.

Reports suggest that exports to such Southeast Asian countries would be facilitated through HKJMA. The trade is expected to be worth hundreds of millions of dollars, as per reports. This cooperation is expected to help the Israel diamond companies gain a boost in business tapping new markets, particularly in the increasing global competition from other centers, as per reports.