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57th Bangkok Gems and Jewelry Fair concluded with a resounding success

Bangkok, 4 March, 2016 – The 57th edition of the Bangkok Gems & Jewelry (BGJF) cemented Thailand’s position as a jewelry hub while new proposals– the launch of the Ruby Symposium in April 2017 – aim to make the kingdom the ruby capital of the world, and the rescheduling of the two annual BGJF events to January and August.

57th Bangkok Gems and Jewelry Fair concluded with a resounding success

Mr. Suttipong Damrongsakul, President of the Thai Gem and Jewelry Traders Association (TGJTA) said, “I believe that the Thai gems and jewelry industry is on course to become a jewelry hub, not just in ASEAN but of the world within the next few years.”

Thailand’s gems and jewelry industry constitutes an essential part of the country’s export trade. The jewelry industry is ranked third after automobiles and electronics generating 371 billion Baht (US$10.3 billion). The 15,777 businesses involved in the industry employs 1.3 million people.

Mr. Somchai Phornchindarak, President of the Thai Gems, Jewelry and Precious Metal Confederation (GJPCT) of Thailand said, “We have come a long way from several decades ago when the industry was formed. Today, Thai gems and jewelry is accepted everywhere in the world due to its high-quality and skilled craftsmanship.”

The industry experts took the opportunity of the 57th BGJF to launch the Ruby Symposium 2017, which will be held in Bangkok in April next year. The Symposium is aimed to address the issues and challenges of the world’s ruby trade and to establish a transparent and trustworthy supply chain on an international level. More than 400 participants from global ruby industry are expected to attend the event.

Thai industry leaders believe that Thailand’s gems and jewelry can build on its comparative strengths to become a regional powerhouse.

Mr. Suttipong said, “Thailand is a good place to do business in the region compared to Singapore, Hong Kong and China. This is because our business operation costs and expenses are much affordable for business people. Thailand could be a centre not only for ASEAN but can be ASEAN+6.”

Mr. Anthony Brooke, vice-president of TGJTA said that despite the downturn in the global economy caused by China’s sluggish economic performance, the overall outlook for the industry was distinctly rosy. The current TGJTA committee is very much focused on creating long term strategy for the development of our industry, and is now looking at a two to five year strategy.

Mr. Brooke added he believed that the nascent ASEAN Economic Community (AEC) offered great opportunities for the industry. “With the advent of the AEC, we anticipate a large growth potential amongst the 10 Asian countries. Indonesia, a population of 170 million people, there’s going to be a lot of demand for Thai-made jewelry there.”

In order to distinguish BGJF from the Hong Kong International Jewelry Show, the organisers have decided to reschedule BGJF in 2017 to January from February, and to August from September.

Mr. Suttipong said the decision to rescheduling the BGJF was based on comments from visitors and exhibitors attended both events in Bangkok and Hong Kong. “The rescheduling is to ensure that buyers would not need to hurry from our fair to other fairs in the region and that exhibitors will be able to participate at the fair. Also, it’s almost impossible for the buyers to hang around outside their homes for 15 days.”

The 57th BGJF was held at IMPACT Muang Thong Thani, Bangkok, from 24 to 28 February, 2016. The event attracted more than 30,000 visitors from around the world who visited the 2,600 exhibitors at Asia’s second largest gems and jewelry showcase.

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