Sri Lanka targets gem sales of US$1 billion by 2016

Nov 01, Ratnapura: Sri Lanka’s Gem and Jewellery Authority will mark its 40th Anniversary today at Ratnapura Provincial Council Auditorium with a exhibition of its precious products.

Sri Lankan Minister of Environment Anura Priyadarshana Yapa and Minister of Public Administration and Home Affairs W.D.J. Seneviratne will open the two-day exhibition today.

Two rare gems belonging to the Authority will be on display at this Exhibition, the government media reported.

Sri Lanka’s earnings from value-added gem and Jewellery exports are increasing and the precious stones and gems have become a major foreign income source for the country.

Under the Mahinda Chintana program the government has pledged to provide all assistance to develop the gem and jewellery industry in the country.

About 150 varieties of gems can be found in Sri Lanka which is famous for its blue sapphires and rubies.

The government says the Gem and Jewellery Authority has set a target of earning US$ 1 billion in the next five years from sales.

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