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Thai Commerce Ministry launches two campaigns
The effort is to promote Thai’s G&J exports
By: Diamond World News Service
Feb 26 2009 8:34PM
Reference: 3572  


In an effort to promote Thailand’s gems and jewellery exports, Commerce Ministry has kicked off two major campaigns – one which encourages all parties in the jewel supply and production chain to follow regulations in their conduct of businesses to ensure smooth flows of import and export through the Kingdom. The second campaign is aimed at promoting the area around Bangkok's Silom, Mahaesak and Surawong as the country's central gem and jewellery district area on the world's map, according to Commerce Minister Pornthiva Nakasai.

Thailand's overall 2008 jewel exports increased by 48.04 percent from that of the previous year and amounted to 274.10 billion baht despite some slowdown in the last quart of last year. Gems and jewelry sector ranked third as the country's top exporting list.

Mrs. Pornthiva said the two campaigns form part of the Ministry's action plans to ensure that the Thai jewel industry can weather the storm of global economic downturn to continue to register growth this year. The "Trading Right" campaign is an effort in which the Ministry has joined the Finance Ministry, Police, Board of Trade, and gem trade associations to especially encourage importers of rough gemstones to declare their imports. Currently, there are no duties or VAT for imported rough gemstones, if the traders followed the customs procedure in declaring the goods. By abiding to the declaration rules, traders contribute to a smooth and streamlined trading system which can be counter-checked for transparency in the trading chain.

The Ministry is working with the local jewellery industry to penetrate new markets including China, India, Russia and the Middle East, while maintaining Thailand's position in important traditional marketplaces like the US and Europe.

The Ministry is orchestrating cooperation among some 2,000 jewel retailers, wholesalers and exporters located in the Silom, Mahaesak and Surawong neighbourhoods to turn the area into a premier gems trade hub. The Ministry's trade offices around the world will include this "gem and jewelry district" in their Thailand's trade promotion agenda.

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