The Thai gem and jewelry industry is keen to expand the Middle East’s profile in its growing list of new export frontiers.
Thai officials say the region, with its high jewel consumption, strong purchasing power and booming economies, is offering vast and potentially lucrative market for Thai products.
Thailand participated in the MidEast Watch and Jewellery Show, which took place in Dubai in April. While at the fair the Thai jewelry industry also tightened the trade relation.
The Thai Gem and Jewelry Traders Association is working with Dubai Multi Commodity Centre, the trade body, on the possibilities of Thai operators setting up offices in Dubai and establishing sales outlets in DMCC’s Gems Club later this year.
Dubai offers the potential to be a stepping stone for Thai jewel firms to enter the region, thanks to its being an economic center in the Gulf and its liberal trade and investment systems, said Vichai Assarasakorn, TGJTA president.
Because of that, TGJTA said it is taking steps and embarking on initiatives to make Thai products shine brighter in the desert land. “We are moving systematically into the Middle East, initially through Dubai in the United Arab Emirates,” Vichai said.
Meanwhile, DMCC has agreed to dispatch experts to disseminate information and data about the jewel market in the Middle East to Thai industry members at the 42 Bangkok Gems & Jewelry Fair to be held Sept. 11-15.
The Bangkok Gems & Jewelry Fair is expected to attract 1,500 exhibition booths and no fewer than 30,000 attendees from some 80 countries.