Supplier News: Week of Oct. 5



Bangkok Gems & Jewelry Fair Focuses on Industry Influence

“Thailand: The AEC Gems & Jewelry Capital,” was the theme of the 56th Bangkok Gems & Jewelry Fair, which ran September 10–14.

Organized by the Gems, Jewelry and Precious Metal Confederation of Thailand (GJPCT), Thai Gem and Jewelry Traders Association, and the Department of International Trade Promotion, Ministry of Commerce, the fair focused heavily on how the country can use jewelry manufacturing and sales as a national benefit.

Prime minister of Thailand, General Prayuth Chan-ocha, opened the event by speaking of the vision to expand Thailand’s markets to make high-end jewelry more affordable for middle-class customers. Chan-ocha also encouraged supporting craftsmen with equal benefits, zero VAT, and duty-free policies, in order to “put Thailand into the position of ‘the World’s Gems and Jewelry Hub.’ If we can find raw materials for the industry, skilled labor and business connections, I believe the Thai gems and jewelry industry can go much further in the global market,” said the prime minister.

Also included in the fair’s launch was a ceremony to honor the H.R.H. Princess Maha Chakri Sirindhorn on her 60th birthday, which included a traditional Thai dance performance.

The fair featured the Gems, Jewelry and Luxury Goods auction, where buyers could place open bids on 120 featured pieces, including a set of 17 unmounted oval-shape Mozambique rubies and a 15 ct. Burmese blue sapphire mounted in 18k white gold.

Somchai Phornchindarak, president of GJPCT, was happy with the success of the auction and expects more in the future. “It is the first international auction at the Bangkok Gems & Jewelry Fair,” he said. “It will be a regular event with more and more products.”

For information about the next fair, visit bangkokgemsfair.com.