Thailand’s jewellery exports expected to grow 3-5 per cent this year

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Thailand’s jewellery exports are expected to grow 3-5 per cent this year, according to the chairman of the Thai Gems and Jewelry Traders Association.

Association executive Somchai Pornjindarak, spoke this morning at the opening of the 52nd Bangkok Gems and Jewellery Fair. The ceremony was presided over by Deputy Commerce Minister Nattawut Saikua.

Mr Somchai said the forecast export growth of 3-5 per cent was due to improving economy of the US, which is Thailand’s main importer of jewellery. More American orders have appeared, and government has exempted import tax for jewellery and accessories displayed in the current show.

He believed the show would attract more sellers/buyers and thus encouraged more sales and orders.

Mr Somchai said other factors included road shows and goods expos in other markets such as the Middle East, Africa and former Soviet Union countries.

Meanwhile, Minister Nattawut said after presiding at the opening ceremony that he believed Thailand’s jewellery export would grow as a result of Prime Minister Yingluck Shinawatra’s recent business trip to Mozambique where she negotiated with its private sector which received a gems mining concession there to set up a factory in Thailand.

The 52th Bangkok Gems and Jewellery Fair opens today and runs through Tuesday at Impact Muang Thong Thani.