Sri Lanka to enter Russian gem and jewellery market

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

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

The trade delegation that visited Russia included leading exporters, SLGJA Chairman and FACET Gem & Jewellery Show 2016 Chairman, NGJA Chairman and CEO and EDB senior officials.
“The mission was able to achieve its main broad objectives of understanding the market, exploring possibilities to penetrate into the gem and jewellery market of Russia and initiating a dialogue with government officials, chamber members to iron out complexities that exist in exporting to   Russia,”  stated EDB Chairperson and CEO 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.

Also, 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 Sri Lanka gem and jewellery industry especially FACET Sri Lanka Gem and Jewellery Show. 

The business-to-business (B2B) meetings organised with major buyers by the Sri Lanka Embassy was much targeted and result oriented. The visit to the JUNEWEX Gem & Jewellery exhibition gave the delegation an insight into the existing trends in the market and the gem and jewellery import-export operations.

Subsequent to the visit, a successful meeting was held at the EDB with Ambassador Dr. Saman Weerasinghe, EDB Chairperson and CEO and industry representatives 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 and jewellery show in Russia – ‘JUNEWEX’  in September 2016,” stated Malwatta. 

The ambassador stated that this was the best period for Sri Lanka to be present in this lucrative market and establish contacts, build up confidence in Russian buyers. He also stated that the Sri Lanka embassy would provide the fullest cooperation in promoting this sector in the Russian market.
A delegation of five to six major gem and jewellery exporters are expected to participate in the JUNEWEX exhibition in September. 

Sri Lanka’s participation will be jointly organised by the EDB, NGJA and SLGJA, with valuable assistance of the Sri Lanka Embassy in Russia.