Editor’s Note
This article details a notable instance of Israeli business leaders attending a conference in Qatar, a country with which Israel has no formal diplomatic relations. Their public participation underscores the complex interplay between geopolitics and commercial interests in the region.
DOHA – An Israeli delegation participated in the International Diamond and Gemstone Conference (DIDGC) in Qatar last week. The invitation came in December from Qatari Minister of Industry and Commerce, Faisal al-Thani. Subsequently, the President of the Israel Diamond Exchange in Ramat Gan, Nissim Suaretz, and its Chairman, Eran Sini, flew to the Gulf state.
As reported by the business magazine “Globes,” the presence of the Israelis in Doha was not concealed—on the contrary. Suaretz sat in the front row with Qatari Minister of International Trade, Ahmed al-Sa’ad, and the head of the Tourism Authority, Sa’ad al-Khardschi.
Particular support came from the United Arab Emirates: The President of the “Dubai Multi Commodities Center” (DMCC), Ahmed Bin Sulajem, expressed pleasure at the invitation extended to the Israelis. The DMCC is the largest known free trade zone in the Gulf state, which has maintained relations with Israel since 2020. The commodity exchange enables traders from countries that do not have diplomatic ties with the Jewish state to conduct business with Israel.
The three-day conference in the Qatari capital addressed, among other things, the future of the global diamond industry. Other topics included new technologies and international cooperation.
Suaretz drew parallels to the Emirates, which are now investing heavily in Israel:
He described the dialogue with the Qataris as “very pleasing” and added:
Israel is a significant center of the diamond industry. The sector began over 80 years ago, during the time of the British Mandate. In the 1950s, the Jewish state lacked foreign currency. The diamond industry ensured that foreign currency flowed into the country.
However, exports have declined by 33.1 percent over the past decade. They amounted to $2.5 billion in 2024. The decline is a consequence of the war.
Qatar and Israel have no diplomatic relations. Although they existed at the level of trade attachés from 1996 onwards, this cooperation came to a provisional end in 2000 with the “Al-Aqsa Intifada” and was permanently suspended in 2009 due to Operation “Cast Lead” against the terrorist infrastructure in the Gaza Strip.
However, in 2021, the two states signed an agreement regarding the Kimberley Process Certification Scheme (KPCS), established in 2003. Israel is a founding member.
That year also ended a crisis between Qatar and six Gulf states that had boycotted the country for about four years. Saudi Arabia and the Emirates were the driving forces, citing support for terrorism as the reason. Currently, Qatar is an important mediator between Israel and Hamas for the release of hostages.
Suaretz pointed out that there had been diamond agreements with Dubai even before the Abraham Accords:
