Israel invites Lankan international gem and jewellery entrepreneurs for JVs
Daily FT: Israel, a major player in the global diamond and jewellery trade, has invited Sri Lankan gem and jewellery businessmen and designers to collaborate with Israeli diamond traders.
This partnership aims to enhance global demand for gem and jewellery by integrating Sri Lanka’s expertise in gem cutting and jewellery production with Israel’s well-established diamond industry.
The invitation was extended by Israel Diamond Exchange Ltd. President Nissim Zuaretz during a bilateral meeting with Ambassador of Sri Lanka to Israel, Nimal Bandara.
In response, the Embassy of Sri Lanka in Tel Aviv agreed to organize a visit for international gem and jewellery entrepreneurs from Sri Lanka to Israel. This initiative will be coordinated in collaboration with international gem and jewellery exporters and designers, as well as the Sri Lanka Export Development Board (EDB), to explore new business opportunities.
During the discussions, Sri Lanka’s past achievements and contributions to the gem and jewellery trade were highlighted, and potential avenues for cooperation between the two countries were explored.
Israel Diamond Exchange Ltd., President Nissim Zuaretz also highlighted the international business network of the Israel diamond exchange and explained how they operate globally. Ambassador Nimal Bandara requested Israel to establish a business center in the Colombo Port City project to facilitate easier trade links with South and Southeast Asian markets.
The Embassy plans to facilitate the visit of Sri Lankan gem and jewellery industry representatives to Israel in May 2025.
Israel Diamond Exchange Ltd. Managing Director Eran Zini; Israel-Asia Chamber of Commerce Chairman Anat Bernstein Reich; Deputy Chairman Ron Doron; Deputy Head of Mission Hemantha Ekanayaka; Counselor of the Embassy Nilmini Abeygunawardhana, and Second Secretary, Sanjaya Niroshana also took part in the event.
OSL take:
Sri Lanka’s gem and jewellery industry is fast-becoming a hotspot for business/investment opportunities with the industry on an expansion path. Local gem and jewellery authorities are also focused on regaining the top slot enjoyed by Sri Lankan gems in the international arena as Gems of Ceylon. The quality of local gems and jewellery add to the glitz of the industry. Realizing the increasing business potential in Sri Lanka, the government of Sri Lanka has also taken steps to boost the industry by presenting incentives to businesses/investors interested in entering the local gem and jewellery industry. The many promotional campaigns being held in foreign markets to promote the local gem and jewellery industry along with the incentive packages and increasing business potential have all presented many business/investment opportunities. Foreign businesses/investors could confidently explore the expanding business/investment opportunities in Sri Lanka’s gem and jewellery industry given the growing business potential.
| Article Code : | VBS/AT/20250312/Z_7 |