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The 59th Bangkok Gems & Jewelry Fair Dazzles 23,000 Global Buyers Over 730 Leading Enterprises Showcase Finest Creations
The 59th Bangkok Gems & Jewelry Fair (BGJF) marks a sparkling start today at Challenger Hall 1-3, IMPACT Muang Thong Thani. Being staged under “The World’s Gems and Jewelry Destination” concept, BGJF is ready to reaffirm its leading position as Asia-Pacific’s important platform of gems and jewelry sourcing by bringing together 730 leading enterprises from 18 countries to showcase latest innovations and finest gems and jewelry. The fair organizer, the Commerce Ministry’s Department of International Trade Promotion (DITP), expects to draw in more than 23,000 buyers and traders from around the world during the five show days, February 22-26, 2017 targeting over 17 billion baht in sales and purchase orders. BGJF also set a grand showcase to kick off a publicity campaign for “World Ruby Forum 2017”, an initiative project coming up later this year to promote “Ruby”, the King of Gems
Mrs. Apiradi Tantraporn, Minister of Commerce, disclosed during an official opening ceremony held today (Wednesday, 22 February 2017) at the Royal Jubilee Ballroom, IMPACT Muang Thong Thani, that: “Thailand’s gems and jewelry industry is considered one of the country’s major industries. As the Indigenous Globally Competitive industry, it is the lifeline of 15,800 entrepreneurs and over 900,000 workers. To date, Thailand stands proud as the world’s Number 10 largest gems and jewelry exporting country. In 2016, the industry fetched more than 7 billion US dollars in export value; and for this year, it is expected to earn for the country some 7.32 billion US dollars, a 5% increase against that of the previous year’s.
She further added “Through the Ministry of Commerce, the Government has been propelling the industry forward as well as accelerating competitiveness enhancement among the local enterprises. Recently, the Government issued a set of policy and roadmap to drive this industry towards the sustainable growth. The Cabinet Resolution on January 17, 2017, on gems and jewelry product import, has stipulated duty exemption on 32 additional items of gems and jewelry in category 71, with result of zero tax, taking effect from January 28, 2017 onwards.
In addition, the Cabinet also agreed on tax incentives and competitiveness enhancement measures where business owners can deduct from payable tax two times the cost of salary and wage. Also, they are to be given access to low-interest loans for upgrades of product standard, machinery replacement, and public relations activities promoting tourist attractions in the country’s gems & jewelry trade communities.
“The tax exemption scheme for the imports of gems and jewelry products is indeed a piece of good news for our gems and jewelry industry. It is considered a huge trade advantage – helping to reduce production cost, supporting innovative product development, and improving Thai entrepreneurs’ overall competitiveness. The tax exemption scheme is expected to help alleviate the intensity of trade obstacles and help support Thailand in its effort to firmly establish as the world’s jewelry hub. And the Department of International Trade Promotion together with The Gem and Jewelry Institute of Thailand (Public Organization) have already been entrusted to implement the jewelry hub plan,” reiterated Mrs Apiradi.
Thailand is now ranked world’s number 10 largest gems and jewelry exporter and one of the world’s leading exporters of silver jewelry and gemstones. Therefore, Bangkok Gems and Jewelry Fair is set as an effective marketing tool for exhibitors seeking to expand exports or build business network with importers from around the world. But more importantly, it is the center stage for potential Thai SMEs as well as competitive designers to showcase their creativity and innovative designs to international audiences.
Mrs. Malee Choklumlerd, Director General of DITP, meanwhile revealed that with the concept of The World’s Gems and Jewelry Destination, BGJF has proudly strengthened Thailand’s position as the world’s gems and jewelry hub. “The 59th Bangkok Gems & Jewelry Fair brings many companies from throughout Thailand and the world, namely, Hong Kong, Singapore, Turkey, Poland, and Japan to showcase the vast array of gems and jewelry as well as related products booths. The fair is expected to generate some 17 billion baht in revenue.”
The five-day trade show also provides update on global market trends and knowledge through a series of insightful seminars. Among exciting activities are the Gem ID Rendezvous being organized by the DITP in collaboration with the Gems and Jewelry Institute of Thailand (GIT) and Asian Institute of Gemological Sciences (AIGS); Ruby Contest in quest of the most beautiful Thai rubies to put on display, and the Ruby Heart of Love, a charity fund-raising to benefit Thai Medical Device Development Foundation (TMDD) Under Royal Patronage of King Rama IX – both aiming to create greater awareness on World Ruby Forum 2017 scheduled later this year. Others include Trends of Gems & Jewelry 2017 seminar, the Export Clinic led by Counsellor Commercial from 58 cities, the Discovery Gemmiferous Nations, and many more
The five-day trade show does not only provide global market trends, but also put spotlight on emerging market sectors across the globe through “The Showcases” featuring jewelry for senior citizen in ‘60+’, jewelry for wedding in ‘The Moment’, jewelry for men in ‘Metro Men’, jewelry for opulence and horoscope in ‘Spiritual Power’, art and craft jewelry in ‘Culture Club’, and jewelry for pet in ‘Pet Parade’zone
The 59th Bangkok Gems & Jewelry Fair is taking place from February 22-26, 2017 at the Challenger Hall 1-3, IMPACT Muang Thong Thani. Trade visitors are welcome on February 22-24, 2017 from 10 a.m. to 6 p.m. And the fair is open for general public on February 25, 2017 from 10 a.m. to 6 p.m. and on February 26, 2017 from 10 a.m. to 5 p.m. Visit www.bkkgems.com for more information, or dial DITP Call Center 1169.
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Issued on behalf of the Department of International Trade Promotion, Ministry of Commerce, by Syllable Co., Ltd. For further information, please contact Mr Somkid Charoensak at Tel 0 2254 6895 /08 4147 7575 or Ms Pornpairin Suriya Tel 06 1989 2214.