Thailand Optimistic About Jewelry Business

RAPAPORT… Thailand’s gem and jewelry exports climbed
2% to almost $13 billion in 2017, excluding gold, Commerce Minister Sontirat
Sontijirawong said in his opening address at the Bangkok Gems & Jewelry
Fair last week.



An improving economic outlook in key
markets for Thai-manufactured jewelry, such as the US, provides optimism for
continuing growth in the country’s gem exports, according to government
officials.



“The key driver is the improving world
economy,” noted Chantira Jimreivat Vivatrat, director-general of the
state-backed Department of International Trade Promotion (DITP), which
organized the event.



“We have been helping Thai companies with
their marketing, and have provided a favorable tax regime for manufacturing,”
she added.



The Gem and Jewelry Institute of Thailand
(GIT) has enjoyed improved Chinese demand for its colored-gemstone grading
services, its deputy director, Boontawee Sriprasert, noted. This reflected stronger consumer demand for those products in
the important market, Sriprasert added.



Gems and jewelry represent Thailand’s third-largest
export trade after the automotive and computing sectors, the DITP said.



The exhibition showcased Thai artisanal and
design skills, with innovative stands featuring jewelry products from small and
medium-sized companies across the country. Around 900 companies — including more than 12 new exhibitors — in 2,200 booths took part in the show, attracting retail buyers
from around the world.



Thailand has a long tradition of manufacturing
and exporting gold, silver and colored-gemstone jewelry, using a highly skilled
workforce and cutting-edge technology, backed by tax exemptions.