Gems and jewellery sector records strong growth

Sunday Observer - 07/07/2013
By Sanjeevi Jayasuriya

The country’s gem and jewellery industry continues its growth momentum with increased export revenue for the first six months of 2013.“We could observe a steady growth in export revenue generation. The growth momentum in the sector augurs well for related industries where its contribution to the national economy becoming more significant,” said Chairman and CEO National Gem and Jewellery Authority, Amitha Gamage.

“We are confident that if this growth momentum continues the gem, jewellery and diamond sector will reach $ one billion by 2016, he said.

The NGJA being the Government body mandated to develop, regulate and promote the gem and jewellery industry in Sri Lanka has organised Sri Lankan Pavilions in several international gem and jewellery exhibitions in China, USA and Singapore.

These countries have been identified as booming markets for gem and jewellery.

Gamage said that the NGJA representative at the annual conference of International Coloured Gemstone Association (ICA) spoke on the importance of organising ICA 2015 Congress in Sri Lanka, an important gem bearing country.

He said that by hosting ICA Congress 2015 in Sri Lanka, the NGJA hopes to gain immense publicity for Sri Lankan gems, traditional and modern Sri Lankan craftsmanship, highly skilled gem cutting facility and the hospitality of Sri Lankans. The event could help build a strong image of the country.NGJA organised the Sri Lanka Pavilion at the JCK Las Vegas Show, one of the biggest gem and jewellery exhibitions in the international event calendar from May 31 to June 2. The NGJA Pavilion had eight Sri Lankan gem trading companies, where there was demand for jewellery made out of precious metals such as gold, platinum and base metals. Therefore, the NGJA plans to further promote Sri Lankan jewellery manufacturers at the JCK Las Vegas 2014 exhibition.

Gamage said that NGJA will encourage the gem and jewellery trading community to venture into new markets such as Poland, Russia, Ukraine and will organise ‘Sri Lanka Pavilions’ at two gem and jewellery exhibitions in China this year. Exhibitions of this nature will the pave way for exposure and opportunities for the gem and jewellery industry to introduce world-renowned brands in Sri Lanka for backward integration keeping in line with the Government’s development strategy which emphasises value addition to make products globally competitive.

Gem and jewellery exports increase

Daily News - 05/07/2013

• Gemstone export revenue tops Rs 1,635 million
• Jewellery exports record Rs 301 million

by Sumanachandra Ariyawansa

Eager buyers at the Singapore International gem and jewellery show which was opened at the Marina Bay Sands Hotel ,Singapore yesterday. The show will be held till July7

Sri Lanka’s gem, diamond and jewellery export sector has recorded an overall growth of more than 50 percent as at end of 2012. Revenue has increased significantly in comparison to the corresponding year’s figure of Rs.24,459 million in 2011.Therefore, Sri Lanka could be promoted as a gem and jewellery hub in the region, a senior official said.

The export of gemstones brought in revenue of Rs 1,635 million recording a 39 percent growth while jewellery exports generated revenue of Rs 301 million showing an impressive 121 percent growth. The service cutting industry showed signs of recovery by recording an Rs 26 million income with a 50 percent growth.

“Sri Lanka is exporting gems to several countries which have shown a keen interest in fine quality blue sapphires of large sizes and the prices fetched by unheated sapphires were unprecedented.

Therefore participating for an event like “Singapore International Jewellery Show” for the seventh consecutive year would help to promote our gem and jewellery products internationally” National Gem and Jewellery Authority (NGJA) Director General R.M.Janaka Udaya Kumara Daily News Business. Sri Lanka retains a world market position as a producer of fine quality gems and has some of the greatest varieties of gems in the world.

Therefore, Singapore being the fourth largest importer of Sri Lankan gems has given the country partner status at this exhibition from its inception, which is one of the big opportunities to strengthen trade links, he said.

In the export market promotion programme this year, the NGJA intends to organize “Sri Lankan Pavilions” in a number of international gem and jewellery events including this event “Gem and Jewellery Show Singapore 2013.In this event we got a very spacious pavilion to exhibit our gem and jewellery, he said.

According to Janaka Udaya Kumara ten countries and 200 exhibitors are participating in the event, which is a good opportunity for Sri Lanka to enhance trade links and promote our gem and jewellery in order to position Sri Lanka as a gem hub in the region. Further, the government has identified the gem and jewellery industry as one of the thrust areas of development, which has given unprecedented incentives to the sector through the last budget, which helps the country to promote itself as a hub in the region in future, he said.

The Director General said with this development they are now in the process of promoting eco friendly mining practices among local gem miners, which was the need of the hour to promote this sector in a more sustainable way.

The U.S.A., Thailand, Hong Kong, Switzerland, Italy, France, India, Malaysia, Singapore, China, Canada and Germany are among the top export destinations for Sri Lankan gems and Jewellery.

Today we are promoting our products in world class trade fairs and exhibitions held in many countries such as the U.S.A., Japan, Hong Kong, Switzerland, Thailand, Malaysia, Singapore, China, India and France, he said.

There will be several mega events such as the Jewellery Shanghai Show, Hyderabad Jewellery, Pearl and Gem Fair, Hong Kong International Jewellery Show, Malaysia International Jewelex, China International Jewellery Show (Beijing) and China International Gold, Jewllery and Gem Fair (Shanghai) during this year.

EDB to develop medical, health tourism

Daily News - 02/07/2013

The Export Development Board (EDB) has identified the potential growth of global Medical Tourism sector and capability of Sri Lankan medical and health tourism providers. EDB has requested assistance of International Trade Center (ITC) to develop this sector.

Accordingly ITC decided to have a case study in Sri Lanka health /medical tourism sector to access the capabilities of Sri Lanka in this sector and to benchmark Sri Lankan capabilities compared to the global Medical Tourism Industry.

An ITC delegation comprising an ITC official and an ITC consultant on Medical Tourism sector visited Sri Lanka

During the visit, they met top level representatives from hospitals practicing western medicine along with the officials from the Ministry of Health and other western medicine sector stakeholders.

Also they met the representatives of Ministry of Indigenous Medicine along with top level representatives from Ayurveda health resorts.

They also visited a cross section of the private hospitals and Ayurveda resorts to get a firsthand experience.

Export Development Board of Sri Lanka gets new Board of Directors

EDB Board of Directors with Minister Bathiudeen

The new Board of Directors was appointed to the Sri Lanka Export Development Board on 27th June. Here Industry and Commerce Minister Rishad Bathiudeen (fourth from right) and Secretary Anura Siriwardena (third from right) with the new appointees: From left: Rohantha Athukorala, Dr. Chameera C. Yapa Abeywardene, Nawaz Rajabdeen, Bandula Egodage (Chairman), Dr. Yousuf Maraikkar (Executive Director) and Sharass M. Zuaib.

The Sri Lanka Export Development Board, usually known as EDB, is Sri Lanka’s apex organization for the promotion and development of exports and was established in 1979 under the Sri Lanka Export Development Act No. 40. EDB is the executive arm of the Export Development Council of Ministers, which is the policy-making body of the EDB. It is headed by H.E. the President of Sri Lanka.

Expo Pakistan 2013 opens in Sri Lanka

Business Recorder

The High Commission of Pakistan in Sri Lanka in association with the Trade Development Authority of Pakistan (TDAP), formally launched The EXPO Pakistan 2013- Opportunities Unlimited on 24 June, 2013 in Colombo.

Minister for Industries and Commerce of Sri Lanka, Rishad Bathiuddin graced the occasion as the Chief Guest and jointly inaugurated the event, with the High Commissioner of Pakistan, Maj Gen Qasim Qureshi (Retd).

Chairman Export Development Board of Sri Lanka, Bandula Egodage, representatives of the main chambers of Sri Lanka i.e. Ceylon Chambers, National Chambers of Industries, Federation of Chambers of Commerce, Women Chamber of Sri Lanka and the members of Sri Lanka-Pakistan Business Council, along with major business houses such as Aitkens Spence, Ceylon Biscuit Limited, Akbar brothers, Calico, CW Mackie, Haleys, Macksons, Eswaran Brothers, Packages Lanka, Hands Logistics and Tunip Lanka attended the ceremony.

The Deputy High Commissioner of Pakistan gave detailed presentation on the EXPO Pakistan 2013, its history, concept, features and the logistics pertaining to the event.

High Commissioner of Pakistan, Maj Gen Qasim Qureshi (Retd), in his address said that the economic diplomacy is the primary focus of the new Government in Pakistan.

According to the policy guidelines issued, the Pakistan’s diplomatic missions abroad will undertake comprehensive steps to enhance and develop trade and commercial linkages with their host countries.
In case of Sri Lanka, formal mechanism such as the Free trade Agreement, Bilateral Investment Treaty, Customs Cooperation Agreement and the Agreement on Avoidance of Double Taxation are already in place.

He urged the business communities of both countries to make use of these mechanisms to take the economic ties to a new level.

He said that, all efforts will be made to attain the trade target of US $ 1 billion between Pakistan and Sri Lanka.

The Joint Economic Commission established between the two countries is due to meet in a few months; it will address the existing irritants in trade and consider other avenues to expand the economic ties between the two countries.

Speaking on the occasion, the Minister of Industries and Trade, Sri Lanka, welcomed the initiative of the High Commission to introduce the EXPO Pakistan 2013 in an interactive session to the business community of Sri Lanka.

Expressing his satisfaction on the progress and pace of economic ties between Pakistan and Sri Lanka, he said that concerted effort was needed on both sides to translate the excellent political relations into strong economic and commercial relations.

The Honourable Minister Rishad Bathiuddin announced that Sri Lanka under the aegis of Export Development Board will send a strong delegation to attend the EXPO Pakistan 2013.

Indo-Lanka bilateral trade tops $ 4bn

Daily News - 27/06/2013

Rishad Bathiudeen, Minister of Industry and Commerce welcomes Indian Commerce Secretary,
S. R. Rao on June 25 at the EDB premises in Colombo.

With bilateral trade crossing $ 4 billion, a new chapter has opened in Indo-Lanka trade ties with the first ever Joint Task Force (JTF) coming into play.

Strong signs of greater Indian market access for Lankan exporters and prompt resolution of trade barriers for them are the other developments in this new turn. “We are working to boost bilateral trade to $ 10 billion and as trade ties have improved greatly, the new understanding reached between both countries is a good sign for our bilateral trade future,” said Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka on June 25 in Colombo.

Minister Bathiudeen was addressing the Indian delegation led by S. R. Rao, the Indian Commerce Secretary, on Tuesday at the EDB premises in Colombo. Rao was accompanied to Sri Lanka by Duleep Mehta, Indian DG Commerce and officials of Department of Commerce of India.

The bilateral trade between both countries totalled $ 4.087 billion in 2012 and in January-April 2013, it stood at $ 1.17 billion.

At the successful bilateral Secretarial level commercial cooperation session of June 24 where Indian side was led by S. R. Rao, Indian Commerce Secretary, and Sri Lankan side led by Dr. P. B. Jayasundera, Secretary to the Ministry of Finance and Planning-together with Anura Siriwardena, Industry and Commerce Secretary, both countries agreed on a process of speedy, immediate solutions faced by exporters at both ends.

As a result and henceforth, any Lankan exporter facing difficulties in Indian ports can immediately contact the Lankan Department of Commerce for prompt resolution of the situation at hand. The understanding reached at June 24 Secretarial level meeting has resulted in prompt dispute resolution and removal of non-tariff-barriers faced by Lankan exporters accessing the promising Indian marketplace.

On June 24 , Department of Commerce officials of both sides also successfully concluded the first ever Joint Task Force (JTF) meeting to be held between the two countries.

In 2012, to pursue an effective plan of action to reap the maximum benefits out of the existing mechanism the two governments have formed a Joint Task Force (JTF) that will include both government officials and private sector representatives. The Indo-Lanka JTF is now in operation.

Sri Lankan team at JTF was led by Anura Siriwardena, Secretary, Industry and Commerce while Indian team was led by Arvind Mehta, Joint Secretary – South Asia.

Apart from government officials, reps from private sector too joined the JTF sessions that continued successfully for more than two hours. Reps from Lanka National Chamber of Exporters, Indo-Lanka CEO Forum as well as the Joint Apparel Association of Sri Lanka (JAAF) were in the Lankan team while among the Indian reps were from the Pharmaceutical Export Promotion Council of India (Pharmexcil), Ashok Leyland and one of India’s leading infrastructure development and finance companies ‘Infrastructure Leasing & Financial Services Limited (IL&FS).

During the June 24’s first JTF session, both sides discussed in depth as to ways and means of boosting trade cooperation to new levels.

Indian reps focused, among others, on increasing investments and trade in Sri Lanka in textiles, pharma and automotive component export manufacturing while Sri Lankan reps, in discussing their requirements, highlighted maximum utilisation the FTA and removal of export quotas.

“We are very happy of the results of the meetings we held so far in Colombo,” said Secretary Rao. “The Joint Task Force (JTF) on bilateral trade also completed its first ever meeting on June 24 . The JTF has also decided to meet once in every three months.


We are looking forward to the second JTF meeting in October or November this year,” Rao said. “We want to see Sri Lanka’s exports to India growing further.

Japan to boost SL’s banana exports

news.lk

Japan’s ITOCHU Corporation will help further strengthen Japan-Sri Lanka trade ties under which investments are to be for expanding the island’s banana and tuna fishing industries and greater export opportunities will be provided for products.

Kouhei Watanebe, Chairman , the Japan - Sri Lanka Business Co-operation Councial and  advisor to ITOCHU corporation said this when he and the corporation’s representatives met Economic Development Minister Basil Rajapaksa at the ministry office on Tuesday June 25.

Chairman Watanebe added that ITOCHU was also focusing on developing Sri Lanka's infrastructure, transport sector and environment-friendly coal power plants. According to him President Mahinda Rajapaksa too had discussed these during his last visit to Japan.

Minister Basil Rajapaksa said there was a very good market for banana, pineapple, rambutan and other fruits grown in Sri Lanka where the cultivation was being expanded with government assistance.  He also said that areas like Batticaloa and Kalpitiya were areas most suitable for the cultivation of marine plants and rearing sea leeches.  

The Economic Development Minister admitted the prawn industry here was facing setback at the moment but there is opportunity for improving it.  Referring to investment opportunities in the area of exports, he said it is Sri Lanka which meets 95 percent of the world’s cinnamon requirements.

Minister Rajapaksa added that the peace which now prevails in the country, political stability, environment friendliness, 24-hour power supply and the availability of skilled labour had attracted many foreign investors.


Industry and Commerce Ministry Secretary Anura Siriwardena and a number of senior officials of the ITOCHU Corporation including its General Managers Masazumi Nishikage (Planning and Administration), Kenji Tanaka(Marine Products) attended the discussions.