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 and Switzerland.

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 show.

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.

(SS)