An investment seminar on diamond cutting, calibrated gem processing and heat treatment of geuda stones in Sri Lanka among other major topics is planned in Bangkok in December which will precede a United Nations-sponsored forum in Colombo in February, says Bernard A. B. Goonetilleke, minister to the Sri Lankan Embassy here.

            The day-long seminar, followed by several days of discussions, is expected to help provide opportunities for Thais in Sri Lanka’s designated “priority sectors” which include radiation treatment of topaz, costume jewelry and jewelry manufacturing, Goonetillede said in an interview. Other priority areas include: the development of agro-based industries such as the cultivation of pineapples and gherkins, shrimp mericulture and fabricated metal and machinery.

            The UNDP/UNIDO-funded investment Forums, held each year in developing countries, takes place in Colombo from February 25 to March 1, 1991. Sri Lanka’s Business Development Center, together with the Greater Colombo Economic Commission, have prepared some 50 feasibility studies for export-oriented joint ventures which also include mineral water bottling, manufacturing of rubber automotive components and nonmetallic mineral products.

           “In the eyes of Sri Lanka, Thailand has become an interesting center for investment. They feel that the Thai economy is mature enough to venture beyond its borders where there is potential for investment,” Goonetilleke said. The GCEC regards Thailand as one of a number of “target” countries which also include the United States. Europe and some rapidly growing countries in Asia.

            Free gold imports and lower wage structures are good reasons for Thai jewelers and others to take their businesses to Sri Lanka, Goonetilleke said. “We regard these factors as very good incentives for foreigners to go to Sri Lanka.”

            Efficient ports, hydro-powered electricity and good telecommunications and transportation make the island nation a strong choice for investors, Goonetilleke added. “Our hope is that the seminar will provide a window for them (the Thais) to see the potential they will have in Sri Lanka,” he said.

            Thailand has a trade surplus with Sri Lanka, with imports of pearls, precious stones and other gemstones accounting for more than 90 percent of the total bilateral trade in 1988, according to Thailand’s Foreign Trade Department. Thai year, Thailand exported almost 1.3 billion baht (49.6 million U.S. dollars) worth of goods, and imported from Sri Lanka a value of 635,844,371 baht. Of the latter, pearls, precious stones and other gemstones accounted for 573,365,773 baht or over 90.2 percent of Thailand’ total imports from that country.