Bangkok Gems & Jewelry Fair kicks off

BANGKOK, February 24 (TNA) - The 57th Bangkok Gems & Jewelry Fair has been opened at the IMPACT Trade and Exhibition Convention Center in Muang Thong Thani on the outskirts of Bangkok, as the Ministry of Commerce has forecast that the value of Thai gems and jewelry exports should expand by at least 5 per cent this year despite a global economic slowdown. Chanthira Yimrewat Wiwatrat, Deputy Director-General of the ministry's Department of International Trade Promotion, presided over a ceremony to open the 57th Bangkok Gems & Jewelry Fair on Wednesday morning. Chanthira said during the ceremony that the value of Thai gems and jewelry exports this year should rise by at least 5 per cent to about 7.5 billion baht due to healthy market demands although exports of the Thai products did not grow last year due to impacts from global economic problems. Chanthira acknowledged that her department has worked out strategic and action plans to promote the Thai gems and jewelry industry over the next five years and targeted Thailand to become a regional hub for auctions of gems and jewelry by 2018 and one of the world's top ten exporters of gems and jewelry by 2020, from the world's 13th place currently. Regarding the ongoing biannually Bangkok gems and jewelry fair, scheduled for February 24-28, Chanthira noted that parties from the Middle East, Russia, the United States and China have confirmed their visits, assessing that the five-day fair should, thus, attract at least 30,000 international visitors from 160 countries worldwide. According to the senior official, she has seen improving purchase orders from the United States, China, India and the Middle East although they have been affected by declining global oil prices. The senior official pointed out that the Thai government's support should help develop Thailand to become a regional hub of gems and jewelry trade in the future and more business operators should arrive for trade negotiations. (TNA)