The Indivisible Relationship Between Thailand & HK’s Jewelry Industry
HONG KONG — After undergoing years of development along with the hard work from the Royal Thai Government, Thailand’s gems and jewelry sector has grown into a large-scale commerce destination among international markets. Interms of production, processing and trading, it is closely engaged with today’s world.
“Thailand’s jewelry industry is majorly made up of gemstone processing, diamond cutting, fine jewelry and imitation jewelry. These are also the major components contributing to our country’s export.” said by Mr. Witt Maneenetr, Thai Trade Commissioner & Consul in Hong Kong.
Thailand is known as the world’s second largest jewelry exporter, one of the top five cutting and polishing centers as well as hub of color stones. The Kingdom is not only endowed with our expertise in cutting, delivering unique design and delicate craftsmanship but also gemstone resources. About 80% of Thai jewelry is export-oriented, contributing a positive figure to its export value. To strengthen our competiveness, most of our products are granted with international verified certification’s standard. Today, Thai jewelry is certainly compatible to world-class suppliers around the globe.
“Hong Kong had always been one of our friendly partners. In the first quarter this year (Jan – Apr of 2017), Hong Kong had imported a total of USD291,229,000 value worth products from Thailand, including diamonds (52.2%), precious metal jewelry and parts (20.1%), precious stones (17.3%), waste and scrap of precious metal (5.4%), semi-precious stones (3.5%) and imitation jewelry (0.6%), etc. The import value had shown a +4.8% growth in compare to the same period last year.” said Mr. Witt.
Thailand’s jewelry sector had also outshine itself among ASEAN countries, ranking as the 10th biggest supplier, taking up 2.2% of Hong Kong’s total jewelry import. In addition, it is also the only ASEAN country which is considered as the top ten suppliers to Hong Kong.
The 60th Bangkok Gems & Jewelry Fair (BGJF)
In recent years, Royal Thai Government is trying to further promote innovation & design, therefore, there are obvious growths to related segments. Jewelry industry is now evolving into a glittering industry aiming to become the jewelry hub of the world.
During The 59th BGJF earlier in February 2017, it had successfully attracted 730 local and foreign exhibiting companies, occupying 2,011 booths. Our appointed agent, The Hong Kong Jewellery & Jade Manufacturers Association (HKJJA) had also recruited 36 quality participants to exhibit at our 58,500 square meter venue.
In addition, the Fair had drawn over 17,000 professional buyers from worldwide, including USA, China, Hong Kong, India, ASEAN countries, Africa, Korea, Russia and Canada, etc.
Mr. Witt pointed that Thai Trade Center Hong Kong is now collaborating with the Royal Thai Government’s goal, with arranging different activities to promote BGJF, such as advertisement, information booth and internet platforms to showcase the potential of this event. In order to sustain and upgrade the quality of BGJF, the Organizer, the Department of International Trade Promotion (DITP), Ministry of Commerce of the Royal Thai Government, will be enhancing the content of this show via varieties of new elements. Besides fashion shows, we have also targeted new markets via “The New Showcases”: “60+” showcasing jewelry specially designed for seniors, “Pet Parade” featured jewelry for pets and pet lovers, “The Moment” displayed jewelry for special occasions such as weddings, “Metro Men” jewelry designed for men, “Culture Club” contemporary art and craft jewelry , “Spiritual Power” enchanting jewelry for spiritual beliefs and the newest version – “Heritage of Craftsmanship” for the well-known delicate craftsmanship of Thais.
Meanwhile, a tax exemption privilege is one of the high-lighted measurements. This year, BGJF will facilitate exhibitors with (1) all gems and jewelry in the Kingdom can enjoy import DUTY-FREE (0% Import Tax), both during BGJF and all year round (2) VAT on imported rough stones by individual importers / sellers has been exempted (3) imported jewelry displayed at BGJF is not subject to VAT (unless they are sold in the show).
The 60th Bangkok Gems & Jewelry Fair (BGJF) will be held during 6-10 September 2017, at IMPACT Muang Thong Thani, Bangkok by the theme of “The World’s Gems & Jewelry Destination”, showing the determination to support jewelry industry by the Royal Thai Government.
We as the Organizer, shall evaluate from our previous experiences and carry BGJF onto the next level that can further fulfill international standards, allowing jewelry industry from worldwide to shine through this international stage.
DO NOT HESITATE, CONTACT US TODAY TO UNLEASH THE POTENTIAL OF BUSINESS OPPORTUNITIES THAT BGJF CAN OFFERS!
Thai Trade Center Hong Kong
TTCHK, also known as the Office of Thai Trade Commissioner (Royal Thai Consulate General – Commercial Section) in Hong Kong is here to serve entrepreneurs in Hong Kong and Macau regions, aiming to enhance business opportunities and create win-win situation for all parties. We are one of the worldwide networks of 63 Thai Trade Center offices in 47 countries around the world, under the Department of International Promotion, Ministry of Commerce of the Royal Thai Government.
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