Commerce Ministry to push Thailand as jewellery hub

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BANGKOK, Sep 14 – Thailand’s exports of gems and jewellery in the first eight months of this year increased 9.82 per cent year-on-year, or by US$6.5 billion, according to Deputy Commerce Minister Siriwat Kajornprasart.

Mr Siriwat said after presiding at the opening ceremony of the 48th Bangkok Gems & Jewelry Fair on Wednesday that his ministry was certain the industry can continue to grow, with overall jewellery export value expected to surpass US$12 billion this year.

Despite the slowdown of the world economy particularly in Europe and the United States, there is still demand for jewellery in the world market.

The deputy minister said the government sees growth opportunities for the gems and jewellery industry, so marketing strategies need to be mapped out. The ministry will gear up to penetrate more of the existing and new markets, especially in the country member of the Association of Southeast Asian Nations (ASEAN) member countries.

Thailand currently ranks 11th among world exporters of gems and jewellery.

Thai Gem and Jewelry Traders Association president Somchai Phornchindarak said his organisation will work with the government in order to push Thailand to become the world’s jewellery export hub, but amendments of the law is needed.

He said industry exports this year are aimed at 10 per cent higher than last year, or about Bt400 billion according to the gold price hikes.

The 18th Bangkok Gems & Jewelry Fair continues through Sunday at Bangkok’s Impact Arena Muang Thong Thani in Nonthaburi.