Thailand Aims to Become Production and Trading Hub

Thailand's first precious stones and jewelry trading center could come into existence next year as part of an effort to make the country a regional hub for jewelry production and trading. Narong Thamavaranukup, who has assumed the presidency of the Thai Gem and Jewelry Traders Association, says the center would be run by the association with operating functions similar to those of the Stock Exchange of Thailand. The proposed center would promote more traffic of raw materials for jewelry production via bidding and auctions. Details of regulations as well as supporting agencies will be settled in the next few months. "Organizations like this have been operated in many countries, including the diamond bourse in Israel," Narong says. The Thai government has agreed to grant about $3.1 million to set up and run the facility at a location now being selected. Earlier, the government agreed t

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