New ideas and interactions take shape at 57th BGJF

The 57th Bangkok Gem and Jewelry Fair (BGJF) began with a showcase of jewellery adorned at a fashion show worn by Thailand‟s elite models on February 24, 2016. Presiding over the opening ceremony, Ms. Chantira Jimreiwat Vivatrat, Deputy Director-General of the Department of International Trade Promotion (DITP), Ministry of Commerce welcomed the gathering. “On behalf of the Ministry of Commerce of the Thai government I would like to extend my very warm welcome to all of you, to the 57th Bangkok Gems and Jewelry Fair today, under the theme: Thailand: The World‟s Ruby Capital‟,” Ms. Chantira said.

He further noted that, “The gems and jewelry industry is one of the most important industries to the Thai economy. Last year it contributed $7.2 billion, employing about one million people. So naturally the Bangkok Gems and Jewelry Fair is very important to the government.” Prior to the event, the Thai Government announced that all gems and jewelry traded during the five days of the 57th BGJF would be duty and VAT free. It has lifted the 20 percent import duty and also made VAT zero percent for the Fair.

The Design Pavilion was inaugurated by Mr. Suttipong Damrongsakul, the President of the Thai Gem and Jewelry Traders Association (TGJTA), Mr. Somchai Phornchindarak, President of the Gems, Jewelry and Precious Metal Confederation of Thailand (GJPCT), and Mr. Matayawong Amatayakul, Commercial Expert, DITP, Ministry of Commerce. The centerpiece of the pavilion is the Art of Kingdom exhibition consisting of traditional Thai masterpieces to show Her Majesty Queen Sirikit's support for Thai arts and craftsmanship. Mr. Matayawong added, “The Art of Kingdom exhibition is also a great inspiration to young designers. The support of Her Majesty the Queen for arts and crafts is well known worldwide. I would like to open the exhibition and I wish that the TGJTA and GJPCT is successful in all its endeavours.” There followed a series of free seminars on the Jewelry Virtual Fair (JVF) opened in Vicenza, Italy, on January 24, 2016, and on new trends in the Middle East. “The JVF social network will have members from many countries such as the EU, China, India and the US, and it will help businesses in the gems and jewelry industry to showcase their products to buyers worldwide,” said Mr. Somchai.

The World’s First Ruby Symposium 2017 was also launched, on the second day at the fair, where Mr. Suttipong Damrongsakul said, “The world‟s first ruby symposium will be the business platform where international industry players will share knowledge and information. This is to establish a central hub of production and trade of gemstones and rubies in this region.”

Thailand, under the leadership of the GJPCT and the TGJTA, aims to hold The World‟s First Ruby Symposium 2017 and to invite all ruby producing countries and all parties such as leading brokerages, governmental agencies and grading laboratories, to come together to discuss the future of the world‟s ruby trade.

Many leading companies extended their support to the symposium. At the Design Pavilion, five panelists from GJPCT and TJGTA spoke of the success intentions to make Thailand as a hub of AEC gateway for gems and jewelry industry while remaining top five of the world in its kind.