Bangkok Gems and Jewelry Fair 2008 to bring in 220 billion baht of revenue

Following the opening ceremony of the Bangkok Gems and Jewelry Fair 2008 today (February 27th), the Deputy Minister of Commerce, Mr. Wirun Techaphaibun (วิรุฬ เตชะไพบูลย์), expects that about 30,000 businessmen will join the fair. He also expects that this event can generate about 220 billion baht of revenue to Thailand.

The Bangkok Gems and Jewelry Fair 2008 is jointly organized by the Department of Export Promotion and the Thai Gem & Jewelry Traders Association (TGJTA). It is being held between February 27th and March 2nd at the Challenger Hall in Impact Arena, Muang Thong Thani. It is considered to be the top five biggest jewelry exhibitions in the world.

Mr. Wirun says Thailand is also hoping to be an international hub of gem industry, and in the near future, this industry can potentially create more than one million jobs in the country, ranging from gem cutters to designers.

Source: Thai National News Bureau Public Relations Department - 27 February 2008

Huge spending expected at a jewellery fair

Bangkok Gems & Jewelry Fair 2008 is expected to spur spending of over Bt25 billion, with the expected number of over 30,000 visitors from 150 countries, said Deputy Commerce Minister Virun Techapaibul.

Chairing the opening ceremony on Wednesday, Virun also noted that Thailand's gems and jewellery exports this year would hit Bt220 billion, compared to Bt185 billion in the previous year. The fair will run until March 2 at Impact, Muang Thong Thani.

"Despite the slowdown in spending worldwide, the sector was doing fine last year. The private sector is also confident that the export target this year woudl be achieved," he said.

Virun also noted that he has assigned foreign trade representatives to promote Thai exports. He noted that from a survey, foreign investors are not quite worried about movements in Thailand as demands are common in a democratic country.

While the trade representatives are asked to help boost exports in old and new markets, Virun said that if Thailand fully exploits the benefits linked to free trade agreements (FTAs), Thailand's exports could expand as much as 15 per cent from the 10.-12.5 per cent target.

This year, the ministry will conduct at least 13 roadshows.

Source: The Nation - 27 February 2008