First-ever “Gem Sri Lanka” trade fair kicks off in Bentota

Friday, 12 January 2024 00:32 - - {{hitsCtrl.values.hits}}

President Ranil Wickremesinghe inspects a precious stone after inaugurating the Gem Sri Lanka trade fair in Bentota. Organiser Chinafort Gem and Jewellery Traders Association Vice Chairman Rizwan Nayeem and Primary Industries State Minister Chamara Sampath Dasanayake look on. The trade fair runs till Saturday

President Ranil Wickremesinghe yesterday inaugurated the first-ever “Gem Sri Lanka” the three-day trade fair organised by the Chinafort Gem and Jewellery Traders Association (CGJTA) at Cinnamon Bentota Beach. Running till Saturday, the “Gem Sri Lanka” trade fair is showcasing the authenticity and value of Sri Lanka’s gemstones to the world. The event serves as a unique platform for emerging talent in the gemstone industry to exhibit their creations on an international scale.

The inauguration ceremony was attended by CGJTA Chairman MP Marjan Faleel and Gem Sri Lanka Chairman Hilmi Cassim.

The “Gem Sri Lanka” trade fair, is a testament to the commitment and support from the highest echelons of Sri Lanka’s leadership, highlighting the industry’s significance to the economic growth.

The trade fair is the first of its kind to be held outside Colombo, showcasing the industry’s reach beyond the capital. The initiative aligns with President’s vision to achieve $ 1 billion in revenue from the gem and jewellery sector, thereby contributing to the development of the rural economy through a carefully planned strategy.

Anticipated to have a substantial economic impact, “Gem Sri Lanka” aims to promote growth by exploring lesser-exposed international markets and attracting increased foreign transactions for Sri Lankan gem purchases. The event has captured global attention, drawing buyers from the USA, Europe and China, resulting in high demand for hotels near the venue.

Collaborations with international gem associations, including the International Colored Gemstone Association (ICA) from the United States and the Shenzhen Jewelry Industry Association (SJIS) in China, have enhanced Gem Sri Lanka’s global standing. The platinum sponsorship and ambassadorship in China by Guild Gem Laboratories, along with the support of over 2,000 members of CGJTA, reinforces the event’s significance.

Chinafort Beruwala Gem Market, custodian of the oldest and largest open-air gem market globally, adds historical depth to Gem Sri Lanka. Beruwala, recognised as the gem city, holds historical significance dating back to the Silk Road and the renowned journeys of Chinese warrior Zheng He (Chêng-ho; 1371–1433) as detailed in the Salalihini Poems.

The trade fair is also endorsed by key authorities such as the National Gem and Jewellery Authority (NGJA), the Export Development Board (EDB) and the Sri Lanka Tourism Promotion Bureau (SLTPB).