The Sri Lankan government has revised its export charges imposed on gems by the National Gem and Jewellery Authority (NGJA) and has allowed the online trading of gems, local media reported here Thursday. As per a special gazette notice, for gem and jewellery export consignments conducted online below the Free On board (FOB) value of 1,000 U.S. dollars, it will be free-of-charge, whilst export consignments conducted online to the FOB value between 1,000 U.S. Dollars and 3,000 U.S. dollars, inclusive of both figures, will be charged 3,000 Sri Lankan rupees. The fee for gem and jewellery export consignments conducted online above the Free On Board value of 3,000 U.S. dollars has been reduced to 0. 25 percent of the FOB value of the invoice from 0.5 percent.
"The demand for gems in the international market has dropped significantly due to the COVID-19 pandemic. Therefore, the industry stakeholders have requested the National Gem and Jewellery Authority to provide relief for charges levied on gem exports and facilitate online gem exports," the Government Information Department said. According to official figures, gem, diamond and jewellery exports in the first seven-months of 2021 amounted to 183 million U.S. dollars as against 90 million U.S. dollars in 2020. Total exports in 2020 amounted to 211 million US dollars, down 9 percent from 2019. In 2019, the first seven months' exports amounted to 175.6 million U.S. dollars.