Archives

By Shirajiv Sirimane

Sri Lanka was appointed Chairperson to the BIMST-EC (Bangladesh, India, Myanmar, Sri Lanka, Thailand Export Group meeting) of the Gem and Jewellery Group at the Hotel Galadari last week.

The Chairman of the Sri Lanka National Gem and Jewellery Authority Prof. P.G.R. Dharmaratne will represent Sri Lanka as the Chairperson of this Group for three years.

The meeting was well attended by a strong trade delegation from India headed by the Chairman of the Gem and Jewellery Export Promotion Council Sanjay A. Kothari. Five representatives from Thailand and two from Myanmar also attended the meeting while there was no representation from Bangladesh.

Sri Lanka presented a draft action plan for the meeting which included upgrading of semi precious gemstones (Topaz) by radiation. The action plan also included industrial familiarisation programs on student exchange scholarships programs and reciprocal basis study tours among the four counties.

Among the main proposals for the investment sector included the elimination of tariff restrictions for the import and export of raw materials among member countries and visa restrictions for businessmen.All the member countries are to lobby for concessionary 'VAT' from the European region.

At present the rates vary from 14% to 20% and has a sifting effect on trade from poor and underdeveloped countries.

The trade sector project proposals include annual reciprocal Inward Buying missions to each member country and organising a Trade fair. In addition a highly informative website has also been proposed by Sri Lanka.

The Indian delegation said that foreigners are given attractive tax concessions which include duty free imports of machinery and raw material. The delegation said that India is emerging as the fastest growing jewellery exporter in the world averaging a growth of 44% each year over the last decade. Exports of Gold jewellery have touched US$ 1166 million from $ 304 million in 1991-92.

The Indian delegation suggested that when gem and jewellery exhibitions are conducted by member countries free exhibition space should be provided to member countries.

The Thailand delegation spokesman Director Gem and Jewellery Institute Prof. Sakda Siripant said that they export 80% of their gem and Jewellery products to the world market. He said that when financial statistics are compared one could see that Thailand imports more gems and exports less. "We get around eight millions tourists visiting the country annually and the gem and jewellery exported by them are not taxed at the airport. Due to this the government does not have the exact figures as to how many items are exported."

The draft action plan for the Thai Group included eliminating VAT of finished products manufactured in member countries and building manufacturing standard and quality control among members. "We are also encouraging the private sector of member countries to invest in joint mining projects", he said.

The Myanmar delegation said that their country allows the export of gems before value addition and that steps would be taken to inform the Group as and when auctions are held to sell gems in raw form. The delegation also agreed to explore the possibility to cut 'red tape' at the immigration point for businessmen from the member countries. The meeting concluded last week.

News | Business | Features | Editorial | Security
Politics | World | Letters | Sports | Obituaries |

Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
Comments and suggestions to :Web Manager