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By Shirajiv Sirimane

Sri Lanka will sign an FTA with Madagascar soon mainly to promote the import of rough gem stones to Sri Lanka.

The proposal in this connection has been already presented to the Consular of Madagascar and the amendments, if any, will be forwarded to Sri Lanka next month.

According to the Vice chairman, National Gem and Jewellery Authority Tennekone Rusiripala the FTA will mainly focus on the import of rough gem stones to Sri Lanka and on duty concessions in this regard. "A lot of Sri Lankans are now importing rough stones from Madagascar to Sri Lanka mainly through unofficial channels.

"This is to evade paying taxes. But when there is an FTA in place Sri Lankans would be able to officially attend many auctions and send the gem stones through official channels. The FTA will also reduce red tape to obtain Visas to Madagascar."

He said that when rough stones are imported to Sri Lanka it will create many job opportunities for Sri Lankans specially in the cutting, polishing and other fields. "It will also open a new market in Sri Lanka." The Vice Chairman also said that Sri Lanka has neglected Japan, which is the world's second largest international gem market after USA. "There is a lot of untapped potential in Japan which must be exploited even at this late stage."

He said that the Authority is closely studying a special promotional proposal forwarded by a leading Sri Lankan businessman in Japan, Dr. M. J. M. Zurfick who is based in Japan for the past 32 years. "He has suggested that Sri Lanka should actively participate in Trade Fairs that are frequently held all over in Japan."

"Another suggestion we are closely studying is the possibility of making a gold ring with a Sri Lankan stone for working girls in Japan." The Vice Chairman also said that the Authority will contact the Tourist Board and Hotels Corporation for special 'gem guided tours' in Sri Lanka. "We are hoping to offer a guided tour of the gem pits, gem value addition centres and also couple the tour with some recreation such as golf."

Rusirupala said that they are also opening outlets at the Katunayake airport and the World Trade Centre in two weeks.

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