Editor’s Note
This article highlights the deep-rooted partnership between Hong Kong and Thailand in the global jewelry sector, underscoring Thailand’s rise as a key player through sustained government support and market integration.
Hong Kong, June 28, 2017 – (ACN Newswire) – After more than a decade of development and relentless promotion by the government, Thailand’s jewelry industry has secured a significant position in the international jewelry market. It is closely linked to the global market in terms of production, processing, and trade.
Thailand is renowned as the world’s second-largest jewelry exporter, a top-five diamond cutting and polishing center, and a gemstone supply hub. Thailand not only possesses talented designers with discerning eyes and advanced processing techniques but also boasts world-famous abundant gemstone resources. Approximately 80% of Thai jewelry is exported overseas, generating substantial export value for the country annually. To enhance the industry’s competitiveness, most jewelry products are also certified to meet international standards. Today, its status is no less than that of world-class producers.
Thailand is the leading jewelry hub in the ASEAN region. Currently ranking tenth in Hong Kong’s total jewelry imports with a market share of 2.2%, it is also the only ASEAN member state within the top ten.
In recent years, the Thai government has vigorously promoted the fashion industry, leading to significant growth in related sectors. With strong government support, the jewelry industry is becoming a shining gem in the international market, aiming to become a global jewelry center.
The 59th BGJF, which concluded successfully in February 2017, attracted 730 local and overseas exhibitors occupying a total of 2,011 booths.
As our designated agent in the Hong Kong region, the Hong Kong Jewelry & Jade Manufacturers Association (HKJJA) also recruited up to 36 exhibitor booths from Hong Kong to gather at the 58,500 square meter exhibition venue.
Furthermore, we attracted over 17,000 professional buyers from around the world for procurement, including those from the United States, China, Hong Kong, India, ASEAN countries, Africa, South Korea, Russia, and Canada.
Mr. Witt stated that the Thai Trade Center in Hong Kong is fully cooperating with the government’s goals, promoting the BGJF through a series of marketing activities such as advertising, setting up inquiry desks, and utilizing online platforms to showcase the fair’s true potential to businesses. To maintain and further enhance the quality of BGJF, the organizer – the Department of International Trade Promotion (DITP) of the Thai government – will introduce more new elements to the grand 60th Bangkok Gems & Jewelry Fair to be held from September 6-10, 2017. In addition to a series of jewelry shows, special thematic pavilions will be set up, including “60+” targeting senior consumers, “Pet Parade” for pet jewelry, “The Moment” for wedding or special occasion jewelry, “Metro Men” for men’s jewelry, “Culture Club” for art jewelry, “Spiritual Power” for faith-related jewelry, and the new “Heritage of Craftsmanship” for traditional craftsmanship.
Simultaneously, exemption from import duties and value-added tax is one of the government’s key measures. This duty-free system covers (1) 0% import duty for Thai jewelry enterprises, (2) exemption of value-added tax on imported gemstones, and (3) exemption of value-added tax on all jewelry imported into Thailand for the BGJF, excluding products sold on-site at the fair.
The 60th Bangkok Gems & Jewelry Fair (BGJF) will be held from September 6 to 10 at the Impact Challenger Hall in Bangkok, under the theme “The World’s Jewelry Capital,” emphasizing the government’s determination to support the development of the jewelry industry.
As the organizer, we will draw on last year’s experience to make further improvements for the 2017 “Bangkok Gems & Jewelry Fair (BGJF)” to help BGJF meet international standards, allowing the global jewelry industry to shine together on the international stage.