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Bangkok Gems & Jewellery Show Dares Difficult Times
Official Supportive & Promotional Initiatives Push up Jewellery in a Big Way
By: Diamond World News Service
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Apr 27 2009 3:27PM
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Reference: 3742  

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The recent Bangkok Gems & Jewellery Show received encouraging recognition from the Prime Minister of Thailand, when he inaugurated the show. This makes a statement of the Thai gems & jewellery sector being important to the country’s growth, as its second largest export industry after rice. Beginning on 25 February 2009, the show presented around 1200 companies showcasing their best products.

In the five day event, buyer gathering was not as numerous as that of the previous years. It was lower by almost 30 -35 per cent. Buyers flocking to the show were mostly from Iran, Pakistan, India, Russia and some Middle East countries and some from Europe. The USA accounted for scanty representation at the show in terms of buyers.

Thailand has been a region known for its speciality in colored gemstones and has steadily built itself into one of the world’s largest centres for loose gems, attracting buyers at its premier show. Silver jewellery also claimed good attention, but the fluctuating prices of silver hindered smooth deal closures although this segment got good response.

In her Opening Speech Porntiva Nakasai, Minister of Commerce said, the Ministry of Commerce’s goal right now is to develop the country into a trading nation so it can become a service provider in a competitive environment. It aims to expand investment opportunities by promoting both exports and the service sector to maintain growth.

In fiscal 2008 the Ministry of Commerce’s export strategy was to help the private sector become the driver of exports. Total exports grew to US$178.274 billion, an increase of 23.64% year-on-year. The strategy targeted maintaining established markets and growing new ones through holding international trade fairs. Together, these fairs attracted over 2 million visitors and generated over 7 billion baht in orders.

All these activities will be continued in 2009.

The minister also preside over a gala dinner to announce the winner of Thailand’s first international jewellery design competition.

The Thailand International Jewelry Award 2009 (TIJA 2009) has ‘Creative of the World’ as its theme and has received 1,500 entries from 18 countries for its two categories : ‘Daytime’ and ‘Exclusive’.

A panel of 11 well-known figures from the Thailand jewellery industry selected a shortlist of 60 designs, which have been manufactured by leading Thai jewellery companies and was on display throughout the trade show in the Design Pavilion.

Diamond Companies Participation Drops :
Many diamond companies refrained from participating due to low demand for diamonds. Jewellery manufacturing in Thailand has experienced slow business in the past few months resulting in job cut of around 50,000 workers due to the global economic crises. But the industry hopes that it will surge through this crisis soon for good times ahead.

Candid Comments of Participants :
Karnmanee, (Hsin Yi Gems) said, “Last year was very good, in fact the last two months very also ok but suddenly the effect started coming very fast to the Gem Industry. In recession CZ could do good and we can increase our market share. Bangkok show is good for us. CZ is also used in lot of different products except jewellery and that market is very big. The UAE and CHINA markets are also growing for us, India is surely an important market for us.”

Tipa Nawawattanasub, (Managing Director of Yoo Lim Gold Factory Co. Ltd.) said, “We are participating in Bangkok show from many years. The show is very slow this year. The first two days were week but on third day there were still some buyers around . I believe overall Thailand jewellery industry is reduced by 20-30% during this recession.

We had lot of American customers but from last two years we started moving towards Europe and now Asian countries also. India we are trying to enter.

Salil Shah, (Managing Director, Diamrusa Ltd.) says, “Our sales are surely down but I don’t know how much this year. European /Russian / Indian and middle east market is still ok for us. We are into a designer medium range of jewellery, we don’t do commercial at all nor we have single solitaires jewellery so we are still fine.

The walk-ins are less this time but there are serious buyers in the show. Indians are seen less I think the strong gold and dollar are holding them to buy. One has to control his expenses and be careful in what he is doing . The slowdown in diamond prices should be good for us to buy, I don’t see any further fall in diamonds because there is no new rough coming in right now.”

Anil Tambi, (Emerald Mines Co.Ltd.) says, “The market is slow and more than that the sentiments are very down. There is no problem in regular business otherwise, people are afraid that they can sell or not, providing credit is becoming difficult. In retail end our buyers say it is not so bad , till December they were very happy from jan-feb they have 30% less sales, but according to him wholesale market is very much down .

No buyers from US are there in the show. I believe traders have reduced profit by 5-10% to move the sales. This time Bangkok fair attracted atleast 30 % less crowd. The Russian market which was moving very good last year has also got affected by the local currency. Indian currency is also very weak which is again effecting the market. I think market should be stable by December this year and then should move ahead.”

The 44th edition of the Bangkok Gem and Jewellery Fair is to take place from 15 September to 19 September, 2009.

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