The Sri Lanka Gem and Jewellery Association (SLGJA) signed a Memorandum of Cooperation (MoC) with Guangdong Gems and Jade Exchange (GDGJE) in Colombo on Tuesday (5).
The landmark agreement signifies a new phase of development between the trades of Sri Lanka and China to explore further mutual-beneficial cooperation opportunities Chairman SLGJA A.H.M. Imtizam 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. Trade between Sri Lanka and China crossed the 4 billion US dollar mark last year for the first time in the bilateral trade history, surging by 17 per cent from 2014’s 3.58 billion US dollars.
As the trade-facilitating body for the jewellry industry, the 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 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 jewellry industry in Sri Lanka, the Chinese delegation formed by the 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 the GDGJE.