In a landslide vote, Avi Paz, the incumbent President of the Israeli Diamond Exchange, has been elected for a third consecutive term after receiving

73% of the votes in elections held on Wednesday, June 25.



Paz said upon the publication of the results that he is "pleased with the vote of confidence the members of the Israeli Diamond Exchange have given me. We are in the midst of a challenging period and we must deal with the ramifications of the financial crisis that has seriously impaired the industry. In order to ensure that we emerge from this period with greater strength, the Israeli government must provide the diamond industry with immediate emergency aid and ensure that Israel maintains its position as leader of the world diamond industry. This is a matter of national economic interest."

As President of the World Federation of Diamond Bourses (WFDB), Paz will shortly travel to Hong Kong in order to attend a summit of presidents of Far Eastern diamond bourses that will be held on June 29. Paz initiated the summit as part of the steps being taken by the industry to deal with the global financial crisis. The summit will host presidents of diamond bourses from India, Bangkok, Tokyo, Hong Kong, Shanghai and Singapore.