Upcoming gems fair forecast to generate at least B3.3bn

Upcoming gems fair forecast to generate at least B3.3bn

Mr Phusit, fourth from right, is accompanied by Mr Sumed, third from left, and presenters at a press conference held for the upcoming 69th Bangkok Gems and Jewelry Fair. Somchai Poomlard
Mr Phusit, fourth from right, is accompanied by Mr Sumed, third from left, and presenters at a press conference held for the upcoming 69th Bangkok Gems and Jewelry Fair. Somchai Poomlard

The 69th edition of the Bangkok Gems and Jewelry Fair (Bangkok Gems) is slated to take place from Feb 21-25 at Queen Sirikit National Convention Center.

The event is organised by the Department of International Trade Promotion and the Gem and Jewelry Institute of Thailand (GIT), in collaboration with a joint committee comprising 13 government and private sector organisations.

The fair is projected to generate at least 3.3 billion baht in revenue.

"As one of the world's top five gems and jewellery trade fairs, the event plays a key role in driving Thailand's economy," said Phusit Ratanakul Sereroengrit, director-general of the department.

"In 2023, the gems and jewellery sector secured third position in overall exports, with the total value, including unprocessed gold, amounting to US$14.8 billion, while excluding unprocessed gold the total was $8.8 billion. This marked a 9.61% gain year-on-year."

He said the industry plays a pivotal role in terms of employment, providing livelihoods for nearly 800,000 people throughout the supply chain.

The fair is considered an essential mechanism in reinforcing Thailand's gems and jewellery industry and highlighting the country's standing as the world's leading gems and jewellery destination, said Mr Phusit.

Sumed Prasongpongchai, director of GIT, said the fair serves as a major meeting point for global gems and jewellery traders, where they gather to negotiate and place orders with Thai manufacturers, particularly for coloured gemstones.

Thailand holds the world's third-largest market share in this sector, a recognition attributed to Thai craftsmen's skills in gem cutting and enhancing the quality of gemstones, acknowledged globally.

Following the success of the previous event, bookings for this edition have exceeded expectations, with over 1,100 exhibitors, both local and international, occupying more than 2,500 booths.

Anticipating attendance by over 40,000 visitors worldwide, the fair is expected to generate at least 3.3 billion baht in trade value, said Mr Sumed.

In addition to the trade fair, the event will feature numerous activities, including a networking reception, a new faces zone featuring the works of emerging Thai designers, a "RIT-RICH" showcase spotlighting spiritual power jewellery in Thailand, as well as an export clinic conducted by commercial representatives from Thai Trade Centres around the world.

There will also be seminars on various topics such as production techniques, marketing and more.

The organisers revealed the opening ceremony will be presided over by HRH Princess Sirivannavari Nariratana.

Her Royal Highness is showcasing a jewellery design collaboration under the "SIRIVANNAVARI x BEAUTY GEMS" brand in a special exhibition titled "Heirlooms of Elegance".

This exhibition reflects the princess's artistic talents and personal stories, according to the organisers.

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