Ministry of Commerce, through the Department of International Trade Promotion (DITP), is driving Thailand towards becoming the world hub of gems and jewelry industry. In line with the government’s strategic roadmap, Bangkok Gems & Jewelry Fair (BGJF) will serve to immensely boost the national export values in this sector. As the country’s longest-established gems and jewelry fair, the 59th BGJF is set to welcome over 23,000 visitors and potential buyers from every continent and garner the handsome sales turnover of 17 billion baht.
Mrs. Apiradi Tantraporn, Minister of Commerce, disclosed during the press conference held today (Wednesday, February 8, 2017) at InterContinental Hotel Bangkok: “The gems and jewelry industry is celebrated as one of the country’s major industries. Presently, Thailand is ranked among the world’s 10 largest gems and jewelry exporters. In 2016, gems and jewelry enjoyed more than 6.97 billion US dollars in export value. As for this year, the industry is expected to gain some 7.32 billion US dollars, a 5% increase from the previous year.
“Through the Ministry of Commerce, the government has issued a set of policy and roadmap to propel this industry towards sustainable growth. Exhibitors can count on Bangkok Gems and Jewelry Fair as an effective marketing tool in order to expand their exports or build network of businesses with importers from around the world. But more importantly, it is the centre stage for potential Thai SMEs as well as competitive designers to showcase their creativity and innovative designs to international audiences.
Mrs. Apiradi further reiterated: “The recent cabinet resolution on January 17, 2017, on gems and jewelry product import has effected duty exemption on 32 additional items of gems and jewelry in category 71, with result of zero tax, taking effect as of January 28, 2017 onwards. In addition, the cabinet agreed on the tax incentives and competitive 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 for tourist attractions in the country’s gems & jewelry trade areas.”
The DITP Director General Mrs. Malee Choklumlerd meanwhile disclosed: “It is pleasing to see that with complete transformation and the newly-defined zones, the upcoming fair has already attracted 18% increase in the number of overseas exhibitors compared to the previous event. And since we all have recognized the essential role of communication in the fair’s success, DITP has launched public relations blitz worldwide through its Thai Trade Center offices in 58 major cities in 43 countries to invite major buyers to join the fair.”
The press conference was also joined by top executives of the Ministry of Commerce namely Mr. Vichak Visetnoi and Mrs. Ratchada Jiasakul, Advisors to the Minister of Commerce; Inspectors General Mrs. Chantira Jimreivat Vivatrat and Mr. Vuttikrai Leewiraphan; and Mrs. Vilaivan Tapwongsri, Commercial Advisor as well as executives from related associations.
The 59th Bangkok Gems & Jewelry Fair will bring together 730 companies from Thailand and overseas to showcases the vast array of gems and jewelry as well as related products in 2,011 booths. The fair is ready to welcome 23,000 visitors and aiming to fetch some 17 billion baht in revenues. As of now, a long list of buyers from around the world have confirmed their participation including those from the United States, China, Hong Kong, Germany, Spain, South Africa, South Korea, India, Japan, and Saudi Arabia.
The five-day trade show does not only provide global market trends, but also put spotlight on rising markets 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.
Visit www.bkkgems.com for more information and online pre-registration, or dial DITP Call Center 1169.
