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EDB, NGJA explore new gem and jewellery markets

Nine-member delegation visits Russia:

The Sri Lanka Export Development Board (EDB), the National Gem and Jewellery Authority (NGJA) and the Sri Lanka Gem and Jewellery Association (SLGJA) embarked on a market diversification program in Russia last week with the assistance of the Sri Lanka Embassy in that country.

A nine-member delegation representing the EDB, NGJA and the private sector participated.

The fifth largest foreign exchange earner for Sri Lanka, the gem and jewellery industry is identified by the EDB as one of the key sectors which could contribute to achieve set export targets.

It is vital to diversify into new markets which have a high potential for Sri Lanka's value-added gems and jewellery industry to contribute towards achieving the targets, an EDB official said.

The EDB, NGJA, SLGJA and the Sri Lanka Embassy in Russia also promoted FACETS 2016 - International Gem and Jewellery Show and the Junwex exhibition and conference.

The Sri Lanka Embassy in Russia is expected to organise a buyer delegation to visit FACETS Sri Lanka 2016.

The EDB expects that the meetings with buyers, government authorities and officials and trade chambers will help to work out an arrangement on importing gems and jewellery from Sri Lanka.

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