Issue 44

As the 57th Bangkok Gems and Jewelry Fair nears, industry professionals are looking towards the country taking a global centre stage.

Suttipong Damrongsakul believes that the Thai gems and jewelry industry is on course to become the hub not just of ASEAN but of the world within the next few years. “We need to focus more on some certain issues to achieve our target Thailand as the gem and jewelry hub,” says the president of the Thai Gems and Jewelry Traders Association (TGJTA), outlining his blueprint for the industry.

“First, we should build up more skilled workers and designers. Second, find the way to fix the shortage of upstream materials like rough stones. Third, stimulate marketing support for manufacturers and exporters. Fourth, amend the laws to support the industry. Next, help SME to access financial support. And last, encourage technology and innovation development,” he says.

However, his current emphasis is to work with the government. “Now our priority is to focus on the law which will remove the 20% import duty on machinery, tools, equipment and gold chain as well as 7% VAT for cut stones,” he says, adding he expects legislation to be passed later this year.

Thailand’s gems and jewelry industry constitutes an essential part of the country’s export trade. “The jewelry industry is ranked third to the value of 35 billion baht (about $98 billion), after automobiles and electronics,” Damrongsakul says. “In 2015, this industry grew by over 3%, and in 2016 we expect growth to be 3 to 5%.”

One of the most effective channels for driving Thailand to be the hub of the gem and jewelry is the bi-annual Bangkok Gems and Jewelry Fair (BGJF), the second largest industry show in Asia. “BGJF is an international B2B trade fair – a marketing tool to present Thai jewelry products and craftsmanship,” Damrongsakul says. The 57th BGJF was held at the IMPACT Exhibition and Convention Center from February 24 to 28.

According to him, Thailand has certain assets that gives it an advantage over other countries. “The strength of our gems and jewelry industry is the skill of Thai people. It has been well accepted by the consumers around the world. Thailand is also a good place to do business in the region compared to Singapore, Hong Kong or China. Our business operation costs are much affordable for business people,” he says. “Thailand could be a centre not only for AEC but AEC+6.”

Somchai Phornchindarak, president of the Gems, Jewelry and Precious Metal Confederation of Thailand (GJPCT) says Thailand has a global reputation “not only for craftsmanship but innovation, such as heat enhancement techniques to produce coloured gemstones, which we call Ploi Thai.”

According to the over 40-year industry veteran, BGJF is growing year-on-year. “Now we have more than 25,000 exhibitors – 65% are local companies and 35% from overseas,” he says identifying the Design Pavilion, which included some exquisite art pieces from the Art of Kingdom – an exhibition of traditional Thai masterpieces displayed in the Ananta Samakhom Throne Hall to show Queen Sirikit's support for Thai craftsmanship – the Gemopolis Auction and the Ruby Symposium as this year’s highlights.

On the third day of the BGJF, the International Press Conference was held with attendance from over 20 media around the world. Five panelists from the GJPCT and TGJTA spoke on the success of the 57th BGJF, future plans for 2017 and the objective of propelling Thailand to become the ASEAN hub of gems and jewelry.

The International Press Conference was supported by the Tourism Authority of Thailand and Centara Grand at Central Plaza Ladprao Bangkok.  

For more information, visit www.bangkokgemsfair.com

Words by Natthinee Ratanaprasidhi