Facets 2012 International Gem and Jewellery Show
Sri Lanka's gem and jewellery export sector targets $b revenue by
2015, said Sri Lanka Gem and Jewelery Association Chairman Prasad
Galahena at a ceremony to launch the Facets 2012 International Gem and
Jewellery Show recently.
He said that gem and jewellery exports are on a steady rise and added
that income from exports is currently around $550m. Export income would
reach around $700m this year.
The US, Europe, China and Japan are Sri Lanka's primary gem and
jewellery export markets. China is fast becoming the leading buyer of
Sri Lanka's precious stones.
Galahena said that the industry is regulated from mining to exports
to boost business. An international fair of this magnitude will boost
Sri Lanka is a leading exporter of precious stones and is reputed for
its blue sapphires and diamonds.
“Sri Lanka has the highest variety of gem stones but strategic
marketing is lacking. The country needs to enhance value addition and
develop products for international markets” Galhena said.
The the gem and jewellery show is held for the 22nd consecutive time
and this year over 200 exhibitors are expected. The exhibition will be
held from September 5 - 8 at the BMICH.
Facets was launched in 1991 with around 40 boots and today it one of
the largest shows attracting a large number of foreign buyers to the
'Come September, come Facets' has been the slogan of the gem and
jewellery show which opens opportunities for Sri Lanka precious stone
Facets Chairman, Juzar Adamaly said that there is an influx of
foreign buyers for Sri Lankan gem stones. Buyers from China have shown a
He said that already around 154 stalls have been sold. People have
shown immense interest in the show due to its importance for trade and
“The demand for Sri Lankan precious stones will never diminish due to
the skilled workforce and the technology available in the country.
Sri Lankan precious stones were in the spotlight following the
promotion of its gem stones at the Royal wedding of Price William and
Kate Middleton”, Adamaly said. The Gem and Jewellery Association
Secretary, Ziqufi Ismail said that buying gems from the source was
cheaper and countries such as China, Russia and India are showing a keen
interest in investing and exporting.
“We have about 12 foreign buyers in Colombo today and we expect this
trend to increase” he said.
Sri Lanka has around 80 of the 155 varieties of gem stones in the
world.Thailand, India, Myanmar and South America are some of the major
competitors of Sri Lanka's gem and jewellery export market.
The export of synthetic stones which has created unfair competition
and is a huge challenge to the precious stone export market of Sri
Last year's exhibition attracted around 8,000 visitors of which 2,000
were foreigners”, he said.