PM:Thailand is ready to become world hub of gems & jewelry by 2021

BANGKOK, November 6 (TNA) - Prime Minister General Prayut Chan-ocha says that Thailand has potential to become a world hub of gems and jewelry trade by 2021. The Thai prime minister declared the country's readiness to become a global hub of gems and jewelry trade while inaugurating the World Jewelry Confederation : CIBJO Congress 2017 in Bangkok on Monday. Delivering a keynote speech at the event, jointly organized by the Department of International Trade Promotion, under the Thai Ministry of Commerce, as well as the Gem and Jewelry Institute of Thailand (GIT) and the World Jewelry Confederation at the Shangri-La Hotel in the capital during November 2-7, the prime minister said that Thailand is now a major production base of gems and jewelry in all upstream, middle stream and downstream processes of the products. The prime minister pointed out that Thai exports of gems and jewelry are among the country's top three exporting products, after automobiles and computer parts. According to the prime minister, the gems and jewelry industry has earned the Thai Kingdom more than one trillion baht annually, more than 50 per cent of which are export revenues from the products, while the rest is their domestic sale value. Besides, Thailand has adopted the "Hallmark", a globally-recognized mark or series of marks labeled on metal items to certify the content of their noble metals, namely gold, silver and platinum, or to refer to their distinguished characteristics. Meanwhile, Thai Commerce Minister Apiradi Tantraporn told journalists that business matching sessions have also been organized to provide a good opportunity and platform for Thai business operators in the gems and jewelry sector to meet with their foreign counterparts participating in the six-day event for their trade talks and contracts. The Thai minister noted that other issues and proposed views raised at the business matching sessions will also be presented at the CIBJO Congress for further consideration. About 250-300 leading gems and jewelry traders from worldwide markets are participating in the six-day event, including representatives from the globally-renowned De Beers Group of Companies and Gemfields Public Company Limited. (TNA)