An advisory committee of the export promotions agency pointed out that the presence and influence of illegal foreign traders and buyers at the China Fort Gem Market and Ratnapura have become a major challenge to the local gem traders.

“While these markets have brought new opportunities to the industry, it has also presented specific challenges that require careful navigation,” the advisory committee on the gems, diamonds and jewellery sector of the EDB said in a statement, yesterday.

The primary challenge faced by the Beruwala Gem Market and Ratnapura is the intensified competition from illegal foreign traders.