EDB targets USD 30 Bn export revenue in 2030
Sri Lanka is looking at netting in around USD 30 billion export revenue in 2030 said the new Chairman of Export Development Board (EDB) Mangala Wijesinghe at the launch of the second edition of the highly anticipated launch event for Gem Sri Lanka 2025, at Shangri-La Hotel Colombo on Tuesday.
The event organized by the Chinafort Gem and Jewellery Traders Association (CGJTA) will be held from January 8 to 10 in Cinnamon Bentota Beach. He said that this would also include revenue generated from the service and tourism sector as well and the gem and jewellery sector too would play a major role towards achieving this target.
President of the Guild Institute of Gemology Andy Lucas, said that there is a huge untapped market for colored gemstones in China which the local exporters should exploit.
He said that currently only ‘blues’ and a few other stones are marketed and steps should be taken to market other colored gemstones from Sri Lanka to the Chinese market. “One must remember that China has overtaken the US to be the largest colour gemstone market in the world.”
He also said in some of the major Chinese cities people don’t even know about Sri Lankan gem stones hence a focused marketing campaign is needed to popularize Sri Lana colored gems in China. Governor of the Western Province, Hanif Yusuf, said that the gem industry suffered a great deal due to high taxes and the new government is looking at relaxing them.
Vice Chairman CGJTA, Rizwan Nayeem, said that the gem industry suffered a great deal due to high taxes and the new government is looking at relaxing them.
“The next Gem Sri Lanka Edition is poised to be twice as large as before as the event has already received confirmation from a diverse roster of international buyers from the USA, Europe, Russia, China, and across Asia,” said Vice Chairman CGJTA, Rizwan Nayeem.
Khalid bin Hamoud Alkahtani, Ambassador to the Kingdom of Saudi Arabia Levan S. Dzhagaryan, Ambassador of the Russian Federation also graced the occasion.
The audience was also captivated by a series of videos showcasing the achievements of Gem Sri Lanka 2024 and the success of the recent promotional campaign on China’s Guild Aurora platform, which generated over 7 million views and sparked substantial international engagement with Sri Lanka’s dynamic gemstone industry.
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