DITP demonstrates strength of Thailand’s gems & jewellery industry
published : 14 Feb 2020 at 14:40
Partners with allies to promote Thailand as the world’s jewellery hub and confirms readiness to host Bangkok Gems & Jewellery Fair
The Department of International Trade Promotion (DITP), Ministry of Commerce, has demonstrated its confidence in the potential of Thailand to become the World’s Jewellery Hub while assigning Thai Trade Centers around the world to proactively promote the export of gems and Jewellery products and focus on penetrating new markets and expanding online sales channels in existing markets. The DITP has also announced its readiness to organise the Bangkok Gems & Jewellery Fair this February to facilitate new opportunities for Thai entrepreneurs to meet international buyers.
At the “Afternoon Tea Talk: Exploring the Charm of Thai Jewellery to Promote the World’s Jewellery Hub,” Mr. Somdet Susomboon, DITP Director-General, said that: “Thailand’s gems and Jewellery industry offers all gems and Jewellery-related products from upstream to downstream and has high potential. Thailand is now one of the top ten Jewellery exporters in the world, and in 2018, three product categories in the industry had a significant market share among international markets, including: Silver Jewellery in which the value of exports from Thailand is the highest worldwide with a market share of 23.8%; Coloured Stones in which the value of exports ranks third worldwide with a market share of 11.9%, and; Imitation Jewellery in which the value of exports ranks sixth worldwide with a market share of 5.9%.”
“With its various strengths, Thailand’s gems and Jewellery industry has the potential to become the world’s jewellery hub. Thailand possesses manufacturing expertise whereby Thai artisans have the skills and the intricate craftsmanship to create products that are recognised around the world. Moreover, Thai business operators are skilled in trading, quick to adapt to market conditions, and skilled at seeking raw materials, designing jewellery, manufacturing, marketing, and catering to customers’ needs. Moreover, Thailand’s location allows it to establish transportation routes to connect to other regions around the world. The country also has dedicated gems and Jewellery institutes such as the Gem and Jewellery Institute of Thailand (Public Organisation) that develops personnel for the industry as well as establishing standards for gems and Jewellery products. Most importantly, the Bangkok Gems & Jewellery Fair is considered a key trading platform that is recognised internationally.”
The Ministry of Commerce has been carrying out marketing and promotional activities through the DITP across both offline and online channels. To this end, the DITP has assigned Thai Trade Centers to assist Thai entrepreneurs to seek out new opportunities in potential markets. Moreover, the DITP has been partnering with private sectors to establish online marketplaces and expand sales channels for products on key online trading platforms around the world through the Thailand’s Magic Hands: The Spirit of Jewellery Making campaign.
Mr. Prida Tiasuwan, Chairman of Pranda Jewellery Public Company Limited and Director of CIBJO, The World Jewellery Confederation, said: “The strength of Thai Jewellery lies in the craftsmanship of Thai artisans. However, we need to continue to develop them to enable them to create intricate craftwork and produce excellent-quality Jewellery pieces that can be sold at good prices.”
“In creating craftwork, artisans must be happy. In order to produce intricate pieces of jewellery, they must have a creative mind. Moreover, for them to be happy, they need to have a good working environment. This is in line with today’s business philosophy where business owners must pay attention to how they affect the environment and be mindful of human rights. Such factors are considered important to the new generation of consumers.”
Mr. Prida added that: “Gems and Jewellery trade fairs are very important in Thailand because they offer opportunities for people in the industry to form business alliances from upstream to downstream. They also promote the nation to become the World’s Jewellery Hub. After all, Thailand is the only country that has every category of gems and Jewellery products, from raw coloured stones to cut coloured stones, as well as artisans ready to craft the Jewellery pieces to perfection.”
The 65th Bangkok Gems & Jewellery Fair will be held from February 25th to 29th, 2020 at Challenger Halls 1-3, IMPACT, Muang Thong Thani. Its aim, as ever, is to demonstrate the potential and the strengths of Thailand’s gems and Jewellery industry while opening new opportunities for entrepreneurs to meet and trade with buyers from around the world.
The event will feature numerous activities. These include Siam Silver Showcase that tells the story of Thai silver from past to present. Plus networking activities, an export clinic held by commercial attaches, and seminars aimed at educating and developing the capabilities of Thai entrepreneurs.
Moreover, participants in the Fair can join the coloured stone auction held by Bonas, diamond brokers based in London with over ten years’ of online auctioning experience.
Please note that organisers of the Fair will be implementing measures to prevent the spread of the 2019-Novel Coronavirus in order to ensure the safety of all participants.