Budget 2002 (PowerPoint presentation)
Gem exports to USA tops Rs.96.80 million
Sri Lanka's participation at this year's G.L.D.A.
Tuscon, Gem and Jewellery Show in Arizona considered to be the largest
gem and mineral show in the world which was facilitated by the National
Gem and Jewellery Authority for local gem and jewellery dealers has
recorded a significant increase in sales this year to top Rs. 96.80
million. This is an increase of 34% from the recorded figure of Rs.
72.18 million in 2001.
show which was held from February 6 to 12 in Tuscon, Arizona has reconfirmed
the potential market that exists in the USA for Sri Lanka's gems and
jewellery, Chairman of the National Gem and Jewellery Authority (NGJA),Prof.
P.G.R.Dharmaratne told the Daily News.
total gem exports to the USA, the country's main buyer of gems since
1998 has recorded a noteworthy increase from Rs.873.59 million in 1999
to Rs. 1631.42 million in 2000.The Authority is in the process of compiling
the latest figures for the year 2001, which are yet to be broken down,
the Chairman said.
United States has over 30% of the total exports of gems and jewellery
from the country with Japan and Hong Kong having a market share of 13%
and 14% respectively.
Ministry of Industrial Development has advised the setting up of a Task
Force with a five year-plan to revive the gem and jewellery sector through
the active participation of the private sector together with the Export
Development Board and the NGJA.
Task Force has ventured into finding out the major constraints faced
by the sector and discovering the present status of the gem and jewellery
industry in the country will be the major focus in this endeavour.
Task Force chaired by Shanaka Ellawala, President of the Sri Lanka Jewellery
Manufacturers Association comprises nominees from other gem and jewellery
associations and the NGJA.
committee is expected to submit its report outlining the areas that
need the immediate attention of the Government in the next two weeks
to the Minister of Industries Prof.G.L.Peiris.
five year plan has also proposed the setting up of 50 gem cutting lapidaries
and 25 jewellery manufacturing factories in the country with the request
from the industry that these be set up in the Free Trade Zones to reduce
cumbersome procedures and provide quick access to infrastructure services
and related problems.
is proposed akin to similar Industrial Estate and Free Trade Area 'Gemopolis'
in Bangkok, Thailand which is famous for tax free diamonds, gems and
jewellery. The 'Gemopolis' is a fully integrated one-stop service which
is a jewellery manufacturing and exporting centre developed and operated
by a group of leading gem and jewellery enterprise in Thailand.
project occupies a land area of 300 acres receiving support through
their Board of Investment, the Industrial Estate Authority and the Customs
Department and is virtually a tax free manufacturing and exporting industrial
estate and developed to accommodate the gems and jewellery operators.
five-year plan also proposes the setting up of a modern lab for gem
testing which is expected to add value and also service the region in
modern lab is required for the testing of gems and have them certified
in order that they be accepted in the global markets as authentic.
Daily News 21/03/02