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| Sunday, 03 August 2003 |
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Gem industry envisages 'shining' future by Elmo Leonard Sri Lanka will shortly ban the export of semi-precious geudas which are now converted to valuable sapphires overseas at an estimated 15 million carat per year. In the past 8-10 years, when the export of geudas was permitted, around 18 tonnes of geudas which left Sri Lanka, accounted for accumulated stocks of sapphires in "another country," a media briefing was told. A time frame to phase out exports of geudas will be announced, National Gem and Jewellery Authority (NGTA) Chairman, Tennekone Rusiripala said. Local and foreign collaborators will be encouraged to heat-treat geudas into sapphires locally to maximise foreign exchange earnings. An internationally recognised gem testing centre affiliated to the American Colored Gemstone Association (AGA) which will accredit all gemstones purchased in Sri Lanka and provide a better image to the island's gem exports, is expected to be established during the year. The trade has paid Rs 35 million to the AGA for setting up the laboratory and intends to collect a further Rs 75 million. The number of stalls for Sri Lanka's 13th FACETS gem and jewellery exhibition, scheduled for September 8 - 10 at Hilton Colombo was increased from 60 to 75 this year. All the booths are sold out and FACETS Organising Committee Chairman, Macky Hashim regretted that space did not permit the construction of more stalls. Exhibitors from Hong Kong, Japan, Thailand, Australia and India will participate. Buyers from America, Australia, Britain, France, Germany, Italy, Japan, Korea, Malaysia, Taiwan, Thailand, Hong Kong, Saudi Arabia and Myanmar are expected to visit the exhibition. The buyers will include 40 to 50 from USA and Japan and another 50 to 60 buyers from India. This is largely due to Sri Lanka's participation at the Indian Gem and Jewellery Show in July, where the FACETS show was promoted, participant, Akram Mansoor said. Another reason for the growing success of FACETS during the past 12 years is due to Sri Lankan gem exporters' participation at all precious stone trade events throughout the world, FACETS Executive Director, Firoze Hassan said. In 2002 Sri Lanka's exports of gems reached Rs 25.2 billion from Rs 21.8 billion in 2001. In 1995, the island's gem exports were a mere Rs 12.7 billion. This year's FACETS theme is 'Blue and more - direct from the source'. It coincides Japan's declaration of 2003 as the 'year of the Blue Sapphire'. The theme would underscore the fact that Sri Lanka is the source of the choicest natural untreated blue sapphires. The FACETS exhibition will highlight that Sri Lanka is the world's best source of the most lustrous and widest range of coloured precious stones, having over 50 of the known 140 stones, Hashim said. Blue sapphires, rubies, padparadschas, alexandrites, cat's eyes, star sapphires, star rubies, garnets, spinels, topaz, aquamarine and moonstones are among the precious stones found here. The FACETS show will provide an opportunity for local gem and jewellery merchants to interact with overseas counterparts and learn about advancements in gem cutting, gem polishing and jewellery making. FACETS 2003 is sponsored by NGJA, the Sri Lanka Export Development Board which assists small-time gem dealers to participate and media sponsors, Associated Newspapers of Ceylon Ltd. |
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