LUSAKA, Feb. 19 (Xinhua) -- Zambia's main emerald producer on Wednesday commended the government for its decision to suspend a 15-percent export duty on precious gemstones and metals.
Gemfields, the majority shareholder of Kagem Minerals Limited, the country's main emerald producer, praised the government for its prompt and impressive response to the 15-percent export duty.
"The Zambian emerald sector has delivered phenomenal growth over the last 16 years and is today, by significant margin, the world's largest emerald exporter," Sean Gilbertson, chief executive officer of Gemfields, said in a statement.
He said the government's collaborative approach and decisive action clearly demonstrate its intention to create growth and jobs for Zambia, adding that the move puts the industry back on track to continue its growth trajectory.
On Tuesday, the government announced the suspension of the export duty after players in the industry complained about its reintroduction. It said the decision was meant to allow local producers to compete more effectively during auctions and sales on the global market.
Last month, the government reintroduced the export duty, which was first introduced in 2019 but was suspended later that year following negotiations with industry players.
