Sri Lanka and Thailand deepen gem trade ties with new cooperation initiative

Sri Lanka and Thailand have moved to consolidate their partnership in the gem and jewellery industry through the launch of 'Gem Sri Lanka 2027', a coordinated framework designed to enhance bilateral trade and investment in the precious stones sector.

The initiative represents a strategic effort by both nations to capitalize on their combined strengths in gem mining, processing, and jewellery manufacturing. Sri Lanka, long established as a significant source of sapphires, rubies, and other precious stones, aims to leverage the partnership to expand market access and technical cooperation with Thailand, a major hub for gem trading and jewellery production in Southeast Asia.

The cooperation framework is expected to facilitate knowledge exchange, joint business ventures, and enhanced market linkages between gem traders, manufacturers, and exporters from both countries. Officials anticipate the initiative will create new opportunities for Sri Lankan gem exporters while strengthening the island's position in regional supply chains.

The launch of 'Gem Sri Lanka 2027' reflects broader efforts by Colombo to deepen economic ties across Asia and diversify revenue streams in the gems and jewellery sector, which remains a significant contributor to Sri Lanka's export earnings and foreign exchange reserves.