FACETS seals $ 10 m in sales
Chinese buyers record US $ 3 m business:
The recently concluded FACETS Sri Lanka 2011 exhibition has been very
successful with entrepreneurs sealing deals of over US $ 10 million
during the four day event held at the Sirimavo Bandaranaike Memorial
Exhibition Centre in Colombo last week.
The Chinese delegation which attended event has made transactions to
the value of over US $ three million. More than 7300 visitors attended
the show of which more than 1300 being foreign visitors. The topmost
preference for foreign buyers was the Ceylon Blue Sapphire.
Sri Lanka Gem and Jewellery Association (SLGJA) Secretary Ziqufi
Ismail speaking to the Daily News Business said the Russian delegation
too made high value purchases and their total sales exceeded US $ one
million. There was a 14-member delegation from Moscow organized by the
EDB and two Chinese delegations for this year’s show.
“With the overwhelming success we are now confident that the gem and
jewellery exports could reach US $ 1 billion export target set by the
government by 2016.
“In 2010, Sri Lanka exported diamonds and jewellery to the value of
US $ 335 million and US $ 70 million worth gems.
Gem and jewellery contributes 5% to our total exports earnings. Gem
and other mining also was the top sector contributing to the 15.5%
growth in Mining and quarrying sub sector in 2010. There are more than
600,000 people engaged in the gem mining to market cycle.” Minister
Rishad Bathiudeen said on the opening day of the exhibition. Sri Lanka’s
gem (only) exports in 2010 first half stood at US $ 35.76 Million and in
the first half of 2011, in rose to US $ 48.46 Million showing leap of
35.5%. The major buyers of Sri Lanka gems are Hong Kong, USA, Thailand
Emerging Markets for gems and jewellery are China, Russia, and
Brazil. FACETS Sri Lanka 2011 was organized by the Sri Lanka Gem and
Jewellery Association (SLGJA).
The show was sponsored and endorsed by the National Gem and Jewellery
Authority (NGJA) and the Export Development Board of Sri Lanka (EDB).
Most of the exhibitors who expressed their views about the success of
FACETS Sri Lanka 2011 reconfirmed their participation at next year’s
The Sri Lanka Gem and Jewellery Association (SLGJA) was recognized as
the Apex Trade Association representing the gem and jewellery industry
of Sri Lanka in the 2003 budget of the Government of Sri Lanka.