Sri Lanka has been well known as a high-quality cutting and polishing destination with competitive pricing and still maintains a reputation as one of the best cutting centres for service cutting in the world. Sri Lanka’s lapidary sector consists of cutting and polishing of diamonds and coloured gem stones and the industry plays a vital role in adding value to locally produced and imported gem stones. The value addition per carat in the calibrated stone industry is estimated to vary between 25-30% for imported stones and 40-100% for local stones.
Officials of the Sri Lanka Export Development Board (EDB) discussed the forthcoming National Export Strategy (NES) and other key initiatives of the agency with top Harvard economist Prof. Ricardo Hausmann last week (16 May).
The Ceylon Chamber of Commerce in association with the Ministry of Development Strategies and International Trade, Ministry of Foreign Affairs, Ministry of Finance, Ministry of Industry and Commerce, Board of Investment of Sri Lanka, Department of Commerce and the Sri Lanka Export Development Board will be organising Sri Lanka Investment and Business Conclave 2018 from 19 to 21 June for the third consecutive year at the Cinnamon Grand Colombo, Sri Lanka.
Sri Lanka Export Development Board (EDB) is in the process of developing new export diversification strategies to increase the share of exports by effective utilisation of provisions under the Free Trade Agreement (FTA) signed between Sri Lanka and India.
Sri Lanka Export Development Board organised an awareness program for the entrepreneurs of the Southern Province on the national program to establish 2,000 new exporters. The program was held at the Sanaya Hotel, Matara on Friday, 11 May.
The Sri Lanka Export Development Board under the directive of the Hon. Malik Samarawickrama, Minister of Development Strategies & International Trade arranged a successful inward delegation from Pakistan following the research done by EDB in 2017 on new opportunities in Pakistan, the 2nd largest economy in South Asia. This mission also focused on maximizing trade under the Pakistan Sri Lanka Free Trade Agreement (PSFTA) to achieve the export earnings of US$ 20 million in 2020.