Bid to make Thailand jewellery hub

BANGKOK, March 6 (TNA) - The government is studying free trade on gems and jewellery as it wants Thai operators to be able to compete with other countries. Finance Minister Apisak Tantivorawong told participants at a seminar jointly sponsored by the Gold Traders Association and the Jeweller Association that the government still collect taxes on certain gems and jewellery items. Meanwhile, small-sized entrepreneurs are still worrying as they could lose competitiveness if free trade is allowed on gems and jewellery. The Finance Ministry’s Fiscal Policy Office will be assigned to conduct a study before an official conclusion is made. He said the government wants to make Thailand a hub for trade on gems and jewellery after noticing that this export sector could fetch about 370 billion baht annually and rank third on the country’s export list. (TNA)