More Chinese buyers to boost gem and jewellery exports
View(s):Sri Lanka is luring more Chinese buyers to boost the country’s gem and jewellery exports taking advantage of the 45 per cent tax removal on gem imports from the island nation to China, officials said.
With this zero tax regime gem and jewellery exporters will have easy access to a huge market in China, a senior Finance Ministry official said, adding that the Memorandum of Understanding (MOU) signed with that country will be the gateway to Chinese market. He predicted that this initiative will help the country to reach a gem export revenue target of US$800 million during this year, a significant increase from last year’s $640 million.
China is the second largest gem importer in the world.
“Our forecast is very positive for the next five years and beyond,” he said adding that the business partnership will only continue to grow, nurtured – in part at least – by the strong relationship between the Sri Lankan and Chinese governments
Meanwhile FACETS Sri Lanka 2013, the International Gem and Jewellery Show that will be held from August 29 to September 1 in Colombo is expected to attract a large number of Chinese buyers, Juzar Adamaly, Chairman of FACETS told the Business Times.
“We hope to see a bigger delegation at the exhibition from the Gem Traders Association in China,” he said.
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