This year's US and International Diamond Week has come to an end in Israel, with the show highlighting Israel as one of the world's leading diamond trading hubs.

CRI's He Fei has more.

The Israel Diamond Exchange, or IDE, is the world's largest and most secure diamond bourse, which houses 1,400 companies in 2,200 offices.

IDE Managing Director Moti Besser says the event is held to benefit their members.

"We are using our facilities in order to create an added value for our members. The trading in the diamond industry is mostly by participating exhibitions. Here in Israel, we invited hundreds of buyers from all over the world."

The U.S. and International Diamond Week has attracted hundreds of buyers from around 20 countries and regions, with diamonds worth more than 1 billion US dollars being offered for sale by more than 400 diamond suppliers.

Kobi Amir, is the CEO of Andre Messika Diamonds, one of the leading diamond companies in Israel.

"It's a very dynamic market. This is something you cannot see somewhere else. It's a good idea to put all the dealers together at the same room. You can see each other. You can see the goods. You can see all the brokers going around and checking for goods. You can deal with them right away on the table, to be fast. It's very positive for all the industry in Israel."

For foreign diamond buyers, the event shows a very different atmosphere.

"I think it's a very interesting fair, because there are many types of suppliers of different sizes, different shapes, different qualities, all under one roof, so it becomes very transparent. It's my first trip, and I think I will do it again."

In addition to the diamond trade, the spring edition of this year's event highlights the exhibition of the 'Rainbow Collection', a unique collection of some 300 fancy-colored diamonds owned by renowned Belgian diamantaire, Eddy Elzas.

For Elzas, the collection he has spent some 40 years to make is priceless. It is not for sale, but to bring happiness to people through exhibition.

"The most beautiful picture I have from the 'rainbow collection' with visitors is a huge black and white picture where you see children standing in front of the collection, (with) happy faces. They don't know it's money, they just think it's pretty, the colors are pretty. Therefore I have this big black and white picture from the 'rainbow collection' where you don't see the diamonds, but you see them shining in the eyes in color, it's a black and white picture."

The diamond industry in Israel has an annual turnover of approximately 28 billion US dollars, with annual exports of rough and polished diamonds worth about 10 billion US dollars. The United States is Israel's largest export destination for polished diamonds, followed by Hong Kong.