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World Federation of Diamond Bourses (WFDB)

Established in 1947, the World Federation of Diamond Bourses was created to united diamond and gemstone organizations under one umbrella, and to provide a common set of trading practices for bourses trading in rough and polished diamonds, as well as colored stones, The WFDB is considered the supreme decision-making body of the international diamond trade and, for bourses, and membership in it is considered a prerequisite for international recognition. The WFDB’s membership today includes 30 bourses in 22 countries and regions. Together they include a total individual membership of some 15,000 diamond traders accounting for the activities of many thousands more diamond traders.
The Israel Precious Stones and Diamonds Exchange has been a member of the WFDB since 1980.

International Colored Gemstone Association (ICA)

The International Colored Gemstone Association (ICA) is a non-profit organization created specifically to benefit the global colored gemstone industry.
Founded in 1984, it today brings under one roof about 600 gemstone dealers, cutters, miners and retailers from 47 countries who are devoted to advancing the knowledge and appreciation of colored gemstones.
ICA works to develop a common business standards, as well as to promote information and knowledge about colored gemstones worldwide.
The organization was proposed at the first International Colored Gemstone Congress in Tel Aviv in 1983.

The Israel Precious Stones and Diamonds Exchange led process toward its creation, and was among the first organizations to become a member of ICA.


Israel Emerald Cutters Association

From the very establishment of a colored gemstone industry in Israel toward the end of the 1960s, emeralds have been cut in Israeli lapidaries. After about a decade of working with rough emeralds from Brazil, the Israel manufacturers began acquiring rough emeralds from Zambia.
Today the manufacturers obtain rough merchandise from Zambia as independent buyers, as well from a range of other sources. Over the past decade, the Israel emerald sector has transformed its production process into one driven by market demand.
The interests of the Israeli emerald manufacturers are represented by the Israel Emerald Cutters Association, headed by Avraham Eshed, as well as by the precious stones division within the Israel Diamond Manufacturers Association.
Over the years, the following have served as President of the Israel Emerald Cutters Association:

  • Ben-Zion Harel of blessed memory 1978-1980

  • Israel Eliezri 1990-1999 (Mr. Eliezri also served as ICA President from 1999 to 2003)

  • Avraham Eshed 1990 till today

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