Thailand proceeds with its gems, jewelry hub goal

BANGKOK, Feb 21 (TNA) -- Promotions continue for Thai gems and jewelry despite baht appreciation as Thailand has potential to become the world's centre for gem and jewelry trade. Commerce Minister Sontirat Sontijirawong said the export value of gems and jewelry excluding gold was likely to grow by 2-3% to US$7.4 billion this year. Despite baht appreciation, economic recovery and beautiful and unique Thai gem and jewelry products were creating demand, he said. He said the Commerce Ministry is promoting the gems and jewelry industry by enhancing operators' competitiveness, finding new marketing channels, researching on new product trends, introducing tax incentives, staging forums for business negotiations, and organizing Bangkok Gems & Jewelry Fair where the demand of potential customers is shared. Mr Sontirat predicted the fair would generate orders worth at least 2 billion baht. The commerce minister said that Thailand could become a hub of gem and jewelry trade as more than 900 relevant producers, distributors and exporters from 130 countries would attend the Bangkok Gems & Jewelry Fair. Last year, Thailand exported gems and jewelry worth nearly US$13 billion. (TNA)