Jul 05, 2016 (LBO) – Sri Lanka Gem and Jewellery Association (SLGJA) together with the National Gem and Jewellery Authority signed a Memorandum of Collaboration with the Guangdong Gem and Jade Exchange to develop more trade opportunities.
“The agreement signifies a new phase of development between the trades of Sri Lanka and China to explore further mutual-beneficial cooperation opportunities,” A.H.M. Imtizam, chairman SLGJA said.
Trade activities between Sri Lanka and China have been on the rise as the two countries are close to reaching bilateral free trade agreement later this month.
Sri Lanka and China trade crossed the 4 billion U.S. dollar mark last year, up 17 percent from 2014’s 3.58 billion U.S. dollars.
As the trade-facilitating body for the jewelry industry, GDGJE is dedicated to filling the gaps existing in the supply chain involving the trading of gems and jade products.
In addition to providing a common trading platform, GDGJE also proactively promotes gems and jade products by creating better consumption platforms for consumers, the statement said.
The MOC between the SLGJA and GDGJE will embark on establishing a platform and bilateral long-term communication and cooperation mechanism for exchange of market information between the two sides.
“Through our visit to the gems and jewelry industry in Sri Lanka, the Chinese delegation formed by GDGJE gained an in-depth understanding on the local operation of the industry. By signing a MOC with the SLGJA in Sri Lanka, we are going to enhance cooperation and to intensify dialogue on our mutual interest and development between the industries in China and Sri Lanka,” said LiZhiwei, general manager of GDGJE.
Following the signing of the MOC, the industries in the two countries will explore joint initiatives to create efficient trading opportunities, such as business matching and exploration tours to the benefit of their respective industry players.
In addition, meetings, exhibitions, conferences, training and capacity building programs are expected to be organized more frequently between Sri Lanka and China, the statement added.