BANGKOK, February 25, 2017 – Thai gem and jewellery exports are forecast to arise around 5 percent year-on-year to USD$7.3 billion in 2018, powered by buoyant demand for Thai-manufactured colour gemstone and silver jewellery.
|Ruby Heart of Love campaign, at Bangkok Gems & Jewelry Fair, is supported by Henry Ho, President of Bangkok's Jewelry Trade Center. Pictured with Jewellery Outlook Editor David Brough|
Commerce Minister Apiradi Tantraporn gave the figure during her address at the opening ceremony of the 59th edition of the Bangkok Gems & Jewelry Fair, taking place at the IMPACT Challenger convention centre from February 22-26, 2017.
Exports are expected to benefit from a reduction in gem and jewellery import duties in Thailand.
|Bangkok Gems & Jewelry Fair, February 2017|
A Cabinet resolution on January 17, 2017, on gems and jewellery product imports, stipulated duty exemption on 32 additional items of gems and jewellery, resulting in zero tax, taking effect from January 28, 2017.
The twice-a-year Bangkok fair, organised by Thailand’s Department of International Trade Promotion (DITP), is a showcase for colour gem and silver jewellery, with a vast array of loose colour gems from rubies to emeralds and sapphires and semi-precious stones.
|Brisk footfall at Bangkok Gems & Jewelry Fair|
The opening ceremony featured a glamorous catwalk show highlighting exquisite fine jewels from Thailand, including Thai brands such as Sirus Tanya.
Footfall was brisk at the Bangkok Gems & Jewelry Fair, which presented around 1,000 exhibitors. Retail buyers came from around the world, and exhibitors spoke of a strong presence of retailers from across Asia and Eastern Europe, and a steady flow of orders.
Chantira Jimreivat Vivatrat, Inspector-General of the Thai Commerce Ministry, told reporters in a briefing that gems and jewellery were a priority export sector for Thailand, and the sector employed almost a million people.
“We see growth in colour stones,” she added.
|Chantira Jimreivat Vivatrat, Inspector-General of the Thai Commerce Ministry, with Jewellery Outlook Editor David Brough|
The strongest export markets for Thai-manufactured gems and jewellery included Switzerland, Hong Kong and the United States, she said.
The Bangkok fair strongly promoted rubies, via its Ruby Heart of Love campaign, supported by the Jewelry Trade Center, a downtown Bangkok skyscraper housing many gem and jewellery retail outlets, and the World Ruby Forum.
The Jewelry Trade Center accommodates many gem and jewellery retail outlets, as well as stores selling fashion and home design items, and is a magnet for tourist shoppers from around the world.