Archives

The negotiations for the Free Trade Agreements with the United States, Bangladesh, Egypt and Malaysia are at various stages of negotiations and will be a reality soon, Minister of Enterprise Development, Industrial Policy, Investment Promotion and Constitutional Affairs Prof. G.L. Peiris told the 13th FACETS Gem and Jewellery Show at the Colombo Hilton yesterday.

"During my recent visit to Malaysia we managed to conclude several vital agreements with industry giants to make more investments in Sri Lanka. Tomorrow Premier Ranil Wickremesinghe will be signing the historical agreement for the Colombo Kandy expressway. The Petronas and other investors are willing to come for investments in Sri Lanka which is the result of the ongoing stable peace initiative," the Minister said. The Minister said that he was part of Sri Lanka's investment delegations for the last nine years and never before has there been more euphoria and enthusiasm about the positive investment climate here with the ceasefire holding.

"I have witnessed with great satisfaction how the exhibition has improved in scope and quality of presentation each year. The gem and jewellery industry is without a doubt one of the sectors which holds potential for growth, he told the delegates. Recognising the potential in the sector the government has taken steps to set up an internationally accredited testing and certification laboratory in Sri Lanka. Nevertheless it has also recently decided to declare the Blue Sapphire as the official precious stone of the country", he said.

Prof. Peiris said that the Japan Jewellery Association has declared the Sapphire as the gemstone of the year which is expected to add more value to Sri Lanka's Sapphire industry.

Chairman of FACETS 2003, Macky Hashim said: "It is now the right time to expand this show and the organisers are hopeful to have a further increase of 30% in the exhibitor capacity next year, with gradual increases in the years to come."

He said that the FACETS show came into being in the early 1990s with the businessmen in the industry investing an initial Rs. 500,000. From this time, the industry has moved from strength to strength, he said.

He said that the stalls at the exhibition had increased from 60 in 2002 to 80 this year and that the FACETS Secretariat was endeavouring to increase the number of stalls to 125 at the 2004 Show next year.

Guest of Honour Ryokusei Toshio Okamoto, a leader in the Japanese gem and jewellery industry and President of Japan Company Ltd. said: "The history of my relationship with Sri Lanka stretches back to 1970's when I set foot on this beautiful island of gems with the intention of establishing a credible partnership with Sri Lanka.

Ever since I steadily promoted Sri Lanka as an excellent venue to trade in coloured stones. The FACETS has no doubt created a deep awareness to the jewellery circle of Japan that quality and varieties are the standards of the trade in Sri Lanka." In boosting the country's image and increasing the global competitiveness of the gem and jewellery industry in Sri Lanka the Export Development Board has recently taken a measure which is known as "Ceylon Sapphire Brand Strategy".

Being the 13th in the series, FACETS, has become the international show and registered its trademark in the trade show calendar of the global gem and jewellery industry. This year the three-day exhibition is witnessed by special delegates from Dubai and India along with the regular participants from the United States of America, Japan, European countries and Middle Eastern countries.

The FACETS 2003 tag line is "Blue and more direct from the source", which is likely to promote gems and jewellery as well as the tourism industry.

www.crescat.com

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

Produced by Lake House
Copyright © 2003 The Associated Newspapers of Ceylon Ltd.
Comments and suggestions to :Web Manager