COLOMBO, April 4 (Xinhua) -- Sri Lanka plans to earn one billion U.S. dollars from exporting gems in 2025, said the National Gem and Jewelry Authority on Friday.
Chairman of the National Gem and Jewelry Authority Naveen Sooriyarachchi told the media that currently about 90 percent of gems are exported through informal channels, and the government is now working to formalize the industry to better track and regulate exports.
Sri Lanka generates approximately 400 million dollars annually from its gem and jewelry sector. Out of that, about 360 million dollars is earned by exporting gems, he said.
With proper regulation and the inclusion of jewelry sales, the sector has the potential to become the country's second or third largest merchandise export in terms of foreign revenue, Sooriyarachchi said. ■
