Thailand eyes to become gems & jewelry hub in ASEAN

NONTHABURI, THAILAND, February 24 (TNA) - The Ministry of Commerce has joined forces with local gems and jewelry traders to develop Thailand to become a hub of gems and jewelry businesses in the Association of Southeast Asian Nations (ASEAN) and to raise the value of local gems and jewelry trade by 4 per cent this year. Nantawan Sakuntanaga, Director-General of the ministry's Department of International Trade Promotion, told journalists on Tuesday, after opening the 55th Bangkok Gems & Jewelry Fair 2015 at the IMPACT Trade and Exhibition Center in Muang Thong Thani on the outskirts of Bangkok, that her department, together with the Thai Gems & Jewelry Traders Association and the Gems, Jewelry and Precious Metal Federation, jointly plan to realize Thailand's gems and jewelry hub dream in the near future, as there is a sound demand for Thai gems and jewelry designs and products with their well-recognition worldwide. According to the senior official, Thai gems and jewelry exports remain at the world's 14th ranking and their export growth expected by 4-5 per cent this year, boosted by the global economic recovery, although the value of Thai gems and jewelry exports totaled 10.08 billion US dollars last year, a drop by 0.05 per cent, compared with a year earlier, because Thailand exported less gold as investors sold gold and turned to other kinds of assets. Over 1,800 Thai and foreign operators, meanwhile, join the 55th Bangkok Gems and Jewelry Fair 2015, held from February 24-28, which is expected to attract 30,000 international visitors from 125 countries. There are also business negotiations and at least one billion baht is, thus, expected to be changed hands during the five-day event. (TNA)