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The Government of Madagascar will introduce a new Gem Trade policy to regularise the procedure of the export of rough gemstones from Madagascar.

The proposal in this connection to issue a special permit for overseas buyers to purchase rough gemstones in Madagascar is in the pipeline according to B. A. Mahipala, Honorary Consul for Madagascar in Sri Lanka, who was recently on an official visit to Antananarivo, Madagascar.

The Consul for Madagascar said that Marc Ravalomanana, the President of the Republic of Madagascar has agreed to allow the issuance of a special permit to purchase rough gem stones at a minimum 5,000 for all foreign gem traders to export rough gemstones from madagascar.

The Minister of Energy and Mining in Madagascar, Jacquit Rabarison, told the media in Antananarivo said that a tax of 6 per cent person is proposed to be levied on all foreign gem traders on this minimum amount requested by the Malagasy government. Senior Advisor to the President of Madagascar Elise Razaka, Honorary Consul for Madagascar in Sri Lanka, B. A. Mahipala and Commercial Advisor to Singapore and Sri Lanka Tiana Andria were also present.

It is expected that with the implementation of the proposed gem trade policy, Sri Lankans going to Madagascar for the purpose of gem trade will have easy access to do business and thereby benefit immensely.

Malca-Amit, one of the internationally renowned logistic services for valuables are also exploring the possibility of setting up a branch office within the vicinity of the Ministry of Energy and Mining in Madagascar to provide a hassle free service to all foreign gem traders arriving in Madagascar.

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