Sri Lanka to enter Russian gem and jewellery market

Monday, 20 June 2016 00:00 - - {{hitsCtrl.values.hits}}

The Sri Lanka Export Development Board (EDB), National Gem & Jewellery Authority (NGJA) and Sri Lanka Embassy in Russia has undertaken follow up action, after completing a very successful trade mission to Russia to promote the Sri Lankan Gems &Jewellery industry.

The initial market diversification program organised by the EDB with the assistance of the Sri Lanka Embassy in Russia and in collaboration with the National Gem & Jewellery Authority (NGJA)and the Sri Lanka Gem & Jewellery Association ( SLGJA) was concluded successfully.

The trade delegation who visited Russia from 25-27May 2016,included leading exporters, Chairman of SLGJA and Chairman of the FACET Gem & Jewellery Show 2016, Chairman& CEO, NGJA and senior officials of the EDB.

“The mission was able to achieve its main broad objectives of understanding the market, exploring possibilities to penetrate into the Russian gem & jewellery market and initiating a dialogue with government officials , chamber members to iron out complexities that exist in exporting to Russia’ stated EDB Chairperson & CE Indira Malwatta. Important meetings were held with Federation of Customs, Chamber of Commerce and Gem and Jewellery Guild of Russia which paved the way to understand the government regulations and market dynamics.

Furthermore the networking session organised by the Sri Lanka Embassy in Russia, attended by over 70 industry specific personnel was extremely fruitful. It gave the industry an opportunity to network with buyers, establish business contacts and promote the Sri Lanka Gem and Jewellery industry including the FACET Sri Lanka Gem and Jewellery Show. The B2B meetings organised with major buyers by the Sri Lanka Embassy were very targeted and results oriented. Visit to the JUNEWEX Gem & Jewellery exhibition gave the delegation an insight to the existing trends in the market and the Gem & Jewellery import export operations.

Subsequent to the visit a successful meeting was held at the EDB with the Ambassador, Dr. Saman Weerasinghe, Chairperson & CE , EDB and industry representatives on 9 July to discuss the way forward.

“In order to get the maximum mileage on the recent mission concluded successfully, it was decided that Sri Lanka should make its presence felt by participating at the major Gem & Jewellery Show in Russia JUNEWEX in September 2016” stated Malwatta. Ambassador Weerasinghe stated that this is the best period for Sri Lanka to be present in this lucrative market and to establish contacts and build up confidence in Russian buyers. He also stated that the Sri Lankan embassy will provide fullest cooperation in promoting this sector in the Russian market.

A delegation of 5-6 major Gem & Jewellery exporters are expected to participate at the JUNEWEX exhibition in September. Sri Lanka’s participation will be jointly organised by the EDB, NGJA and the SLGJA with the valuable assistance of the Sri Lanka Embassy in Russia.

The industry is hopeful that all these efforts of the public and private sector will pave the way for Sri Lankan exporters to enter the Russian market.