Issue 42

One of the most prestigious gem and jewelry fairs in the world opens in Bangkok.

February will see Bangkok sparkle into life as the biannual Bangkok Gems and Jewelry Fair (BGJF) returns to the Thai capital. The second largest jewelry fair in Asia – and the fifth in the world – organisers are confident the event will help propel the country into becoming the spring board to the Association of South East Asian (ASEAN) nations.

Held at Bangkok’s IMPACT Exhibition and Convention Center – the largest column-free, ground-level exhibition facility in Asia – from February 24 to 28, the 57th BGJF is expected to attract tens of thousands of buyers from over 130 countries, from the US to the EU and from Russia to the Middle East, as well as 30,000 local visitors. Last September, over 1,500 exhibitors with over 3,000 booths attended the 56th BGJF, generating gross export revenue in excess of US$12.8 billion.

Somchai Phornchindarak has no doubt as to what makes BGJF stand out from the crowd. “We are different from other fairs because our products are really varied, our designs are excellent and we are number one in the world,” says the Chairman of the Gems, Jewelry and Precious Metal Confederation of Thailand.

Suttipong Damrongsakul, President of the Thai Gem and Jewelry Traders Association (TGJTA), believes that BGJF57 will showcase Thailand’s expertise and talent. “We would like to encourage new innovation from exhibitors, as we want to present to foreign buyers the potential of Thai gems and jewelry companies,” he says.

Chantira Jimreivat Vivatrat, the Deputy Director-General of the Department of Trade and Promotion (DITP) sees a glittering future for the sector. “The government is confident of the potential of Thai businesses in the gem and jewelry industry. Various measures and incentives have been introduced to facilitate trading.”

But the 57th BGJF will be much more than a glittering showcase of some of the world’s finest diamonds and coloured stones, it is very much a place of work. “The objective of the fair is for foreign buyers to come and place orders, which is why the fair is held twice a year,” says Phornchindarak.

To encourage further trade, the government has lifted the 20% tax on imported gems and jewelry sold at the 57th BGJF. Foreign exhibitors can import and sell gems and jewelry from other countries duty-free, and local exhibitors can make their prices more competitive. Ultimately it will be the buyer who wins out the most.

The move is part of the Thai government’s ongoing support of the industry, according to Phornchindarak. “The government has been with us every step of the way, helping to promote exports as well as developing overseas markets via trade fairs, road shows and exceptional exhibitions,” he says. “All these changes predict a gleaming future for everyone.”

Another government concession is the Zero VAT privilege, where buyers of rough gems and raw materials are exempted from paying the 7% tax.

Aside from the tax cuts, the main feature of the 57th BGJF will be a series of design pavilions including the Department of International Trade Promotion’s Thai Design Pavilion and one organized by Gemsfield UK to showcase some of the finest jewelry from around the world.

To make doing business even easier, this year BGJF will also have its own mobile application, which will enable buyers to connect with sellers, as well as providing a floor plan of all exhibitions. There will also be various seminars, contests, trend updates and special offers.

Phornchindarak believes that the 57th BGJF underlines the industry’s bright future, not that he is one to rest on his laurels. “We need to push Thailand to become the gem and jewelry hub in ASEAN,” he says.

For more information, visit: www.bangkokgemsfair.com

By Mark Bibby Jackson