Sri Lanka Gem and Jewellery Association unveils strategic hub proposal

The Sri Lanka Gem and Jewellery Association recently presented its ‘Sri Lanka Gemstone Hub Strategy Sapphire  Capital of the World’ proposal to the state.

The presentation ceremony took place at Cinnamon Grand Hotel, on August 24, 2023.  

During his address at the ceremony, Sri Lanka Gem and Jewellery Association President Ajward Deen said, “Months of meticulous planning, collaborative efforts and visionary thinking have culminated in the concept paper that we are proud to present today. As we take this important step forward, it is our distinct privilege to align our aspirations with the visionary intentions of President Ranil Wickramasinghe, whose steadfast commitment to fostering and elevating the gem and jewellery industry is evident in his recent statements acknowledging the pivotal role of this sector in Sri Lanka’s development.”

Sri Lanka Gem and Jewellery Association Past President Chanaka Ellawala explained the concept of the proposal to various dignitaries and ministers that were present at the event.  The main objective of the proposal was to alleviate the gem and jewellery industry in Sri Lanka by establishing a free trade period for the sale of gems and jewellery, similar to that of Dubai, Thailand and Singapore, which have also implemented similar systems. This would greatly improve both short-term and long-term market conditions in the sector and help generate the much-needed foreign income into the country. 

Industries Minister Dr. Ramesh Pathirana stated, “This free trade zone system for the gem and jewellery sector is an urgent need for this country. Therefore, the government is working to provide the necessary guidance and maximum support to advance the gem and jewellery industry by utilising the resources and capabilities in Sri Lanka.”

Primary Industries State Minster Chamara Sampath Dassanayake and Investment and Promotion State Minister Dilum Amunugama also addressed the gathering at the event. 

The event was graced by various dignitaries connected to the gem and jewellery sector in Sri Lanka. Among them were Dr. Pathirana, Dassanayake, Amunugama, Member of Parliament Ajith Mannapperuma, Member of Parliament Akila Ellawala, National Gem and Jewellery Authority Chairman Viraj De Silva and Export Development Board Chairman Dr. Kingsley Bernard.