Ready market for ‘Colombo cut’ gem stones in Europe

By Jayampathy Jayasinghe

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“Colombo cut” gem stones have found their way into the vocabulary of the international gem industry, said Minister of Export Development and International Trade Prof. G. L. Peiris, the chief guest at the Annual General Meeting of the Exporters Association of Sri Lanka recently.

He said there was a ready market for Sri Lankan rubies, sapphires and high quality ceramic products in the oil rich countries of Azerbaijan. The government has identified the craft industry which is to be developed soon. Even sectors such as rubber and leather would be developed to earn foreign exchange, he said

Referring to the gem and the jewellery sector, he said that value addition was important if we are to earn one billion US dollars in foreign exchange.

The tea industry surpassed the one billion US dollars last year due to the export of value added products. Companies were generally moving away from exporting raw products such as bulk tea and instead value added tea bags and packeted tea were exported to capture the top end market. Some brands of tea were known all over the world, he said.

The minister said that steps will be taken to set up an Export Promotion Village. In the Wayamba area, people have taken to cultivation of flowers and foliage. Referring to the GSP, the minister said the matter would be decided on when the rules are formulated on July 23.

The application in respect of GSP would be entertained thereafter. He said large French companies were pleased with their ties with the Sri Lankan government and with our quality of export products.

International companies such as Marks and Spencer in the United Kingdom were supportive of Sri Lanka obtaining the GSP benefits, he said.

The Minister said that European companies were willing to pay extra for products manufactured under ideal conditions. “There were no sweat shops or child labour in Sri Lanka. Even the CEO of Marks and Spencer UK who visited garment factories in Thulhiriya and Seeduwa had said that they were the best garment factories in the world,”.

Referring to the apparel sector, he said there were prophets of gloom who predicted that the apparel industry would collapse following the withdrawal of the quota system.

However, some in the apparel sector were better off today than what they were earlier under a quota system. The success was due to the vision and a clear cut policy of value addition. “Today we have found niche markets in North America and Europe” he said.

Mrs. Nirmali Samaratunga was elected Chairman of the Exporters Association of Sri Lanka at the AGM.