DITP and GIT Celebrate the Phenomenal Success of the 69th Bangkok Gems and Jewelry Fair

Post on : 08 May 2024 15:32:00

DITP and GIT Celebrate the Phenomenal Success of the 69th Bangkok Gems and Jewelry Fair

Bangkok, Thailand - The Department of International Trade Promotion (DITP) and the Gem and Jewelry Institute of Thailand (GIT) have announced the resounding success of the 69th Bangkok Gems and Jewelry Fair, highlighting the collaborative strength of the public and private sectors in reinforcing Thailand’s position as a global hub for gems and jewelry trade.

The Department of International Trade Promotion (DITP) and the Gem and Jewelry Institute of Thailand (GIT) joined forces with leading private sector figures in the gem and jewelry industry, including Mr. Pornsit Sriorathaikul, Mr. Prida Tiasuwan, Mr. Boonkij Jitngamplang, Mr. Phuket Khunaprapakorn and Mr. Vibul Hongsrichinda, to announce the success of the "Bangkok Gems and Jewelry Fair" and Thailand's potential as a global hub for the gem and jewelry trade. The announcement was made at the Department of International Trade Promotion, with the presence of the president and representatives from various trade associations within the industry, who are also part of the Organizing Committee.

This event, which has become a cornerstone for the Thai gems and jewelry industry, was made possible through the unwavering support and collaboration of over 16 leading organizations from both sectors. The fair not only showcased Thailand’s prowess as a global trading hub but also emphasized the country's unified approach to boosting the industry.

Phusit Ratanakul Sereroengrit, Director-General of DITP, remarked, "For over 40 years, DITP has been orchestrating the Bangkok Gems and Jewelry Fair to foster trade opportunities for SMEs and connect them with global buyers. The fair serves as a pivotal mechanism to propel the industry, with the goal of establishing Thailand as a principal center for the global gem and jewelry market. In 2023, in partnership with GIT, we enhanced the fair's effectiveness to reach a broader audience, supported by the solid and united efforts of more than 16 government and private organizations, including leading trade associations. The success of this year's event, held in February, exceeded all expectations with significant growth across all dimensions, including a visitor count of 37,229 and 2,483 exhibitors from Thailand and abroad. The fair achieved a trading volume exceeding our targets by 20%, amounting to approximately THB 3.95 billion."

Sumed Prasongpongchai, Director of GIT, stated, "The success of this fair results from the strong collaboration between DITP and GIT, along with our partners. It highlights the grandeur of Thailand's gem and jewelry industry and underscores the importance of the Bangkok Gems and Jewelry Fair and Thailand as a premier global center for gem and jewelry trade and production. The attendance of nearly 70% international visitors from top countries like India, China, Myanmar, Sri Lanka, and the USA reflects this global appeal.

The Bangkok Gems and Jewelry Fair not only serves as an international platform for trade negotiations but also as a venue for forging business partnerships, exchanging knowledge, and enhancing the industry's image through various special events and parallel activities, such as networking receptions and seminars.”

In 2023, gem and jewelry products, excluding unworked gold, ranked as Thailand’s eighth highest export, generating a revenue of USD 8.808 billion. The industry employs nearly 800,000 people across the supply chain, from production to retail and export, with over 12,000 enterprises nationwide, 90% of which are SMEs. The first two months of 2023 saw gem and jewelry exports (excluding unworked gold) bring in USD 1.822 billion, making it the fifth highest export category for Thailand, marking an 11.81% increase from the previous year.

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