The week that Israel and the United Arab Emirates normalized ties, Israeli diamond trader Zvi Shimshi headed to the United Arab Emirates to open a company in Dubai, a regional trade hub that is a major center for the precious stones.
He is among 38 Israelis whom the Dubai Multi Commodities Centre (DMCC), home to Dubai Diamond Exchange, said have recently contacted it to set up a presence, in a sign of how shifting regional politics could alter global trade dynamics.
Traders in Dubai say they have been inundated with inquiries from Israelis, who traditionally trade in Belgium’s Antwerp — the world’s biggest center for traders of rough and polished diamonds.
💬 Commentaires