Opportunities for Sri Lanka’s jewelry industry expands in South Africa
The outgoing South African High Commissioner in Colombo Robina P. Marks during a discussion with Sri Lanka’s Foreign Minister Dinesh Gunawardena at the Foreign Ministry recently had expressed South Africa’s keenness to obtain assistance from Sri Lankan craftsmen to develop the jewellery industry in South Africa.
Minister Gunawardena had reportedly sought South African expertise in the canning industry for the food and vegetable industry in Sri Lanka as around 40% of the harvest is wasted in the country due to technology gaps in this field.
Besides, the Minister had highlighted the importance of enhancing cooperation in trade, investment and tourism sectors between the two countries. It was also discussed on further expanding tea exports to the African continent through the South African distribution network.
The outgoing High Commissioner had reportedly informed the South African supermarket chain, SPAR has made arrangements to expand up to 20 units in Sri Lanka and had further emphasised on the availability of the containers that import goods from South Africa to be used to export Sri Lankan products to the South African market upon their return.
OSL take:
Sri Lanka clearly has vast potential in South Africa’s jewellery industry. Sri Lankan businesses engaged in the jewellery industry could confidently explore business opportunities in South Africa and vice versa. South African businesses/investors could explore the possibility of forming partnerships/joint ventures with local jewellery businesses. After all, Sri Lanka is well known the world over for its gems as well. Also, the many trade agreements as well as trade concessions enjoyed by the country can help potential investors expand businesses to other countries.
| Article Code : | VBS/AT/09122020/Z_2 |