Dazzling opening for ‘Jewels Sri Lanka 2010’

World’s largest star sapphire on show

By Cheranka Mendis

The world’s third largest star sapphire is on display at the much awaited ‘Jewels Sri Lanka 2010’ international jewellery, gem and mineral trade show which kicked off yesterday in a truly glittering event at the Sirimavo Bandaranaike Memorial Exhibition Hall.

The gemstone on display along with one of Sri Lanka’s largest cat’s eye drew large crowds as it stood guarded by men dressed as ancient security personnel. The star sapphire, weighing 393 carats is named ‘Star of Lanka’ and has been found in the Balangoda area almost 30 years ago. Owned by Sri Lanka National Gem and Jewellery Authority, the star sapphire gemstone is rich deep-blue in colour and has a well-defined six-rayed star. Export Manager National Gem and Jewellery Authority Rohan Pitigala stated that the stone has not been valued yet. The Chrysoberyl Cats eye known as the ‘Ray of treasure’ is 103 carats, recently mined in the gem gravels of Sri Lanka. Mined in Matale the stone has the best “chatoyancy” effect, Pitigala said with the most desirable qualities of a ‘Milk and Honey’ effect, good transparency and a well-defined silver ray on display. With the majority of the exhibitors claiming it a success hours after its opening by President Mahinda Rajapaksa, the exhibition houses almost 200 stalls related to the field of gem and jewellery. With many stall-holders comparing the exhibition to the ‘Facets’ exhibition held every year, the exhibition was seen as one with international standards, well organised and brilliantly set up.

General Manager of Sena Gem Trading House (Pvt) Ltd. Mohamed Rizwan, a first time participant expressed delight at being welcomed to such a large hall of exhibitors. “We take part in many international shows even though this is our first time in Sri Lanka. When we came in last night we were surprised at the set up which was equal to foreign shows,” Rizwan said. The trading house which has a large clientele of those in the diplomatic missions stated that the industry is picking up fast with international buyers looking at Sri Lanka for the purchase of coloured gemstones.

A founder member of Malaysia-Sri Lanka Business Council, Rozwan claims that the majority of gem exports are sent to the USA with Malaysia, UK, India and Japan along with their new found client Middle East following closely behind. Speaking of the gem and jewellery exhibitions in the early years, Rizwan expressed happiness at seeing the growth of trade shows of the industry. “In 1993/1994 a similar show was on at the BMICH but only 40 odd stalls were on display. The demand for good quality precious and semi precious stones are fast increasing and we are much happy to see the progress of the industry,” he said.

P.P. Nanayakkarawasam, partner of Expo N Lanka and founder member of Gem Corporation in 1972, also agrees that the industry is picking up. However, the government must pay attention, he asserted. “The government needs to encourage imports. Sri Lanka does not have the rough material and at present needs to go to Madagascar, Tanzania etc. to buy the necessary resources. At present such stones come to Singapore and needs to be bought from there. However if the stones are available in Sri Lanka it would be much easier for those in the industry,” Nanayakkarawasam said.

 He also said that Sri Lanka is at present exporting stones in rough form which would dampen the recognition for Sri Lankan gems and stones. “We export in bulk and they (other countries) turn them into blue sapphires etc. adds value and receives higher prices.” Trade of gem and jewellery which is done by the private sector at most parts must also find new ways of value addition. Tourism must pick up for business to double and more traders must focus on emerging markets in China and Russia. “In the 1970s Japan was one of Sri Lanka’s most prominent buyers however now it is changing even though Asia as a region is still high on the list of local buyers.”

A set of awards and certificates were given to those who have engaged in the field for a long time offering their service and expertise in many ways. Among those were P.G.R. Dharmaratne, Deshabandu L. Ellawala, Deshabandu Macky Hashim, Deshabandu Naufer S. Jabir and Punsiri Tennakoon. The special award for the largest gem exports went to Ellawala Exports Limited while the award for the largest jewellery exports went to Nithyakalyani Jewellers. The special certificate for the best stone-cutting service went to Radiant Gem (Pvt) Ltd. while the award for quality products was bagged by Raja Jewellers. An award was also given to environment friendly gem mines which was bagged by M.A. Thupakumara.

The gem, diamond and jewellery sector has recorded an overall growth of 20.6 per cent during the first half of 2010 earning a revenue of USD 197.06 million in comparison to the corresponding figure of USD 163.40 million in 2009. The exports statistics show that in 2009 gems worth USD 7226 million had been exported.