Prime Minister Benjamin Netanyahu is on an official go to to Washington, the place the problem of normalization with Saudi Arabia is on the agenda, amongst different issues, however not too long ago there was an intriguing flip of occasions with one other Gulf state: Qatar. For the primary time ever, an Israeli delegation participated final week within the Worldwide Diamond and Gem Convention held within the Qatari capital Doha, “Globes” can reveal.
The delegation, which entered Qatar with Israeli passports, included Nissim Zuaretz, president of the Israel Diamond Alternate in Ramat Gan, and CEO Eran Zini, and was invited by Qatari Minister of Commerce and Trade Faisal Al-Thani. Though the occasion opened about ten days after the ceasefire with Hamas went into impact, Al-Thani had prolonged the invitation a month in the past. Throughout the occasion at The Ned Doha Lodge, the Qataris and different individuals didn’t attempt to cover the Israeli presence.
Zuaretz was sat within the first row along with Qatar’s Minister for Worldwide Commerce Dr. Ahmed al-Saad and chairman of the Vacationer Authority Saad Al Kharji. Probably the most senior Qatari determine to attend the occasion was Prime Minister Mohammed Al Thani, who opened the exhibition. President of the Dubai Multi Commodities Heart (DMCC) Ahmed Bin Sulayem expressed satisfaction over the invitation that had been prolonged to the Israelis.
Zuaretz mentioned, “We’re in the beginning of a course of with the Qataris for a lot of enterprise alternatives, not solely within the area of diamonds. Qatar goes to turn into a major hub. Simply because it began with Dubai, the place right now flights from Israel to Dubai by no means cease, and the UAE comes and make investments cash in Israel. The dialogue with them was very nice, they usually obtained us respectfully. They know the potential of the Israelis, and what’s taking place with Trump might deliver a few change within the financial technique with them.”
Throughout the occasion, individuals mentioned the way forward for the worldwide diamond business, new applied sciences and worldwide cooperation. Israel’s standing as a outstanding diamond heart has already been mirrored in relations with Qatar through the years.
In 2021, Israel and Qatar reached an settlement that may enable Qatar to hitch the listing of nations eligible to commerce diamonds beneath the Kimberley Technique of the Petroleum Exporting Nations (KPCS), of which Israel is a founding member. Doha has pledged to permit Israeli merchants to enter the nation, however right now commerce with the Gulf is targeted on Dubai’s DMCC trade, which additionally permits for contact with merchants from nations with which Israel has no diplomatic relations.
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Reconciliation with neighbors
The identical 12 months that the diamond settlement with Israel was signed additionally noticed the top of Qatar’s disaster with its Gulf neighbors. Led by Saudi Arabia and the UAE, they’d boycotted it for about 4 years over allegations of supporting terrorism. Nonetheless, tiny Qatar (inhabitants of three million, of whom solely about 12% are Qataris), led since 2013 by Emir Tamim bin Hamad Al Thani, is a world participant that’s tough to disregard. Within the navy sphere, main US Air Pressure base Al-Udeid is positioned close to Doha. Within the political sphere, the Al-Thani household is perceived within the West basically and by the Trump administration particularly as an efficient mediator, as illustrated within the negotiations with Hamas whereas within the financial sphere, Qatar is the nation with the very best pure fuel reserves per capita on the planet.
Pure fuel is a crucial consider why GDP per capita in Qatar (about $80,200 in 2023, based on the World Financial institution) is especially excessive, even by Gulf phrases. For comparability, GDP per capita within the UAE and Saudi Arabia is about $49,000 and $21,000, respectively. Israel is someplace in between these nations, with GDP per capita of about $52,600.
The diamond business is one in every of Israel’s oldest industries and exports. It started in the course of the British Mandate interval over 80 years in the past, and is intertwined with the native financial system. Within the Fifties when Israel had a serious scarcity of international forex, it was the diamond business that generated international trade movement for the state coffers. Since then, the UAE established a free commerce zone in Dubai, and have become a crucial gamers within the diamond market. Partly as a result of new competitors, complete diamond exports from Israel have fallen over the previous decade. Partly as a result of struggle, exports fell by 33.1% to $2.5 billion in 2024.
Zini mentioned, “The competitors between us and Dubai and Qatar, which has determined to strongly enter the diamond sector, just isn’t a contest between firms, however between governments. They’ve understood how essential the jewellery and diamond sector is, whereas Israel just isn’t paying consideration and shedding its comparative benefit. But we’re nonetheless thought-about severe gamers available in the market, with the most effective diamonds on the planet.”
With the struggle ending, cooperation with Qatar could also be helpful within the diamond sector. The Qataris have nice monetary and logistical capabilities on a world scale that would hurt Israel’s place available in the market, particularly with the UAE’s affect, however on the similar time, Israel is acknowledged as having the best knowhow and expertise within the business and all events can generate mutual success.
Relations had been frozen
The diamond connection might improve Qatari curiosity in strengthening financial ties with Israel, maybe on the best way to normalization within the foreseeable future. Within the case of the UAE, diamond business ties between the nations preceded the the Abraham Accords. “Even earlier than the Abraham Accords, there have been diamond agreements with Dubai,” recounts Zuaretz. “The worldwide market understands that if you wish to be a major participant, you must have a connection to Israel.”
Qatar has an extended “connection” to Israel than most Gulf states. Following the Madrid Convention in 1991, ties between the nations had been shaped, when following the Oslo settlement, then-International Minister Shimon Peres met together with his Qatari counterpart. Instantly afterward, Israel examined the opportunity of buying pure fuel from Doha, and in 1996, Qatar and Israel established diplomatic relations on the industrial attachés stage.
The outbreak of the second intifada led to the closure of the Qatari mission in 2000, however Doha, led by the daddy of the present emir, Hamad al-Thani, was fast to resume relations. Three years later, then-Qatari International Minister Hamad al-Thani even said that if a peace settlement with Israel would profit Doha’s pursuits, they’d contemplate such a step. That step didn’t materialize; throughout Operation Forged Lead in 2009, the Israeli mission was closed once more after which Prime Minister Netanyahu refused to resume relations on the identical format.
Since then, and particularly after Emir Tamim got here to energy in 2013, Israeli-Qatar relations have been characterised by mistrust and suspicion. It was handy for Jerusalem to make use of Doha’s ties with Hamas for mediation, and even to switch a month-to-month grant of $30 million to Gaza from Operation Protecting Edge in 2014 till October 7, 2023. On the similar time, safety ties between the events have tightened because the US choice to switch Israeli territory to the realm of jurisdiction of Central Command (CENTCOM) about 4 years in the past. On this context, in 2022, Saudi web site Elaaf reported that the earlier IDF Chief of Employees Aviv Kochavi met with the Qatari Chief of Employees Salem Bin Hamad Al Aqeel on the headquarters of the US Fifth Fleet in Bahrain.
Printed by Globes, Israel enterprise information – en.globes.co.il – on February 5, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
