Commerce Ministry to push Thailand as jewellery hub

BANGKOK, Sep 14 - Thailand's exports of gems and jewellery in the first eight months of this year increased 9.82 per cent year-on-year, or by US$6.5 billion, according to Deputy Commerce Minister Siriwat Kajornprasart.

Mr Siriwat said after presiding at the opening ceremony of the 48th Bangkok Gems & Jewelry Fair on Wednesday that his ministry was certain the industry can continue to grow, with overall jewellery export value expected to surpass US$12 billion this year.

Despite the slowdown of the world economy particularly in Europe and the United States, there is still demand for jewellery in the world market.

The deputy minister said the government sees growth opportunities for the gems and jewellery industry, so marketing strategies need to be mapped out. The ministry will gear up to penetrate more of the existing and new markets, especially in the country member of the Association of Southeast Asian Nations (ASEAN) member countries.

Thailand currently ranks 11th among world exporters of gems and jewellery.

Thai Gem and Jewelry Traders Association president Somchai Phornchindarak said his organisation will work with the government in order to push Thailand to become the world's jewellery export hub, but amendments of the law is needed.

He said industry exports this year are aimed at 10 per cent higher than last year, or about Bt400 billion according to the gold price hikes.

The 18th Bangkok Gems & Jewelry Fair continues through Sunday at Bangkok's Impact Arena Muang Thong Thani in Nonthaburi. (MCOT online news)

-- TNA 2011-09-14

Another day, another hub.

I believe that Thailand has long been a Hub of cheap crap jewelry, I used to carry home rings & gee-gaws to sell in England some 20 years ago, and an in-law showed me round a sweat-shop polishing-up makasite (?) for some direct-sales TV-channel in the USA ?

There used to be a jewelry-market in Bangkok, for this sort of tat, well it all creates jobs & makes money !

I believe that Thailand has long been a Hub of cheap crap jewelry, I used to carry home rings & gee-gaws to sell in England some 20 years ago, and an in-law showed me round a sweat-shop polishing-up makasite (?) for some direct-sales TV-channel in the USA ?

There used to be a jewelry-market in Bangkok, for this sort of tat, well it all creates jobs & makes money !

There is plenty of high street jewellery shipped out of Thailand back to the West already. Putting a hub on it isn't going to change anything until the West gets out of the economic doldrums.

Another day, another hub.

I agree. I thought they would be all hubbed out by now. Have the forgotten anything?

Just how many Hubs does Thailand expect to become. Sooner or later, they will get a flat time.

We are now Commerce Ministry to push Thailand as fake jewellery hub.

What more?

And yet another "hub". I am getting soooo tired of this.

Ah, yes ... crackdown on drugs and the latest hub.

Back to the glory days when each sunrise brought another hub and sunset a couple of crackdowns.

Too many hubs, not enough spokes.

Probably a case of "Thaksin's coming, everybody look busy."

The Ministry seems to be very reactionary. There's been an increase in gem exports so they can only continue to increase... therefore we can be a hub!

Instead of looking at the market carefully and being proactive, they are aiming for a free ride at work. By finding existing improvement they are hoping to look good at their jobs by jumping on the bandwagon. Any future success can be claimed by them.

Nothing in the article about how they would make the country a hub. Let me see:

1) New slogan 'Jewellery Thailand'

2) Tax cuts

3) Training

The weakness of other currencies and the extraordinary resilience of the baht has hurt exporters and their customers hugely over the past couple of years. The cheap end of the market overlaps into the gift industry and when times are hard these kind of purchases get the elbow first. Glad I'm not in the business any more.

Did the Jet Ski Ministry claim Thailand as the Water Sport Hub?

Tuk Tuk Minister says Thailand is the Modern Taxi Hub ...and so we should believe them....They are Ministers!

Ah Miracle Thailand the HUB of absolutely everything, world leaders in all that is worthy. The Hub of the world. I think they have pretty much cornered the HUB market now.

Edited September 14, 201114 yr by softgeorge

Well, not as hub-centric as in 2005 when foreign residents actually called for a "hub cap".

Some believe Thaksin was ousted in the coup due to his hub-ris and the army could no longer guarantee the security of all hubs, so indeed they triggered the hub collarary -- a crackdown.

Perhaps "THE HUB OF BLING"?

Hub of Blue Diamonds?

Hub of Blue Diamonds?

blood diamonds

The Hub Of Official Pipe Dreams.

The one thing that is clear from all these attempts at becoming the hub of some great wheel, is that, besides navel gazing being the national sport, these political minds truly seem to believe 'the world DOES revolve around their individual national navel'.

Edited September 14, 201114 yr by animatic

to push Thailand to become the world's jewellery export hub

OMG....yet another one.......

Pals, I am just curious: did they EVER officially realized even one of those "hubs"? I meant, they have oficially announced a hundred hubs or so - but did they ever make even one (in fact)?

PS: The question is rhetoric.......

Edited September 14, 201114 yr by alexakap

to push Thailand to become the world's jewellery export hub

OMG....yet another one.......

Pals, I am just curious: did they EVER officially realized even one of those "hubs"? I meant, they have oficially announced a hundred hubs or so - but did they ever make even one (in fact)?

PS: The question is rhetoric.......

I know it's a rhetorical question, but there is one they have managed.

Thailand, the hub of hubris.

The first 2 paragraphs of the OP's report read as follows;

Quote ''BANGKOK, Sep 14 - Thailand's exports of gems and jewellery in the first eight months of this year increased 9.82 per cent year-on-year, or by US$6.5 billion, according to Deputy Commerce Minister Siriwat Kajornprasart.

Mr Siriwat said after presiding at the opening ceremony of the 48th Bangkok Gems & Jewelry Fair on Wednesday that his ministry was certain the industry can continue to grow, with overall jewellery export value expected to surpass US$12 billion this year.'' End quote.

Why are reporters in Thailand so numerically challenged ?

If 9.82% is 6.5 billion, how can 100% be 12 billion.?

What's up with this obsession with hubs.

Why can't Thailand be the hub of hubs?

The first 2 paragraphs of the OP's report read as follows;

Quote ''BANGKOK, Sep 14 - Thailand's exports of gems and jewellery in the first eight months of this year increased 9.82 per cent year-on-year, or by US$6.5 billion, according to Deputy Commerce Minister Siriwat Kajornprasart.

Mr Siriwat said after presiding at the opening ceremony of the 48th Bangkok Gems & Jewelry Fair on Wednesday that his ministry was certain the industry can continue to grow, with overall jewellery export value expected to surpass US$12 billion this year.'' End quote.

Why are reporters in Thailand so numerically challenged ?

If 9.82% is 6.5 billion, how can 100% be 12 billion.?

I guess that's the "hub effect" at work.

Thailand's exports increased 9.82% to 6.5 billion in the first 8 months, so from just under 6 bill to around 6.5 bill.

Annualized that would be roughly from 9 bill to about 9.9 bill.

But now that we have the "hub effect", for the last 3 months instead of getting the extrapolated 3.4 bill (9.9-6.5) for the last 4 months, they will actually get 5.5 (12.0-6.5)

hubba-hubba-hubba, this sh_t really works!

Either that or Thailand is the hub of mathematically challenged individuals in not just ASEAN, but the world.

BTW, did the increase in the prices of gold and silver have anything to do with this? Begging the question, is there any actual gold and silver in these exports?

If there is, then they may have actually gone backwards in real terms, as the price of gold alone, year over year in that time frame was up around 30%.

Oop's I smell a new hub. The hub of misconceptions.

Or perhaps the hub of mistaken hub opportunities.

Just how many Hubs does Thailand expect to become. Sooner or later, they will get a flat time.

We are now Commerce Ministry to push Thailand as fake jewellery hub.

What more?

It's not fake, just inexpensive and not-very-good quality, most of it. And then there are all those counterfeit-gems pushed at the poor tourists on day/half-day tours, does anyone ever seriously buy that stuff ? Hub of incautious tourist shoppers, perhaps ?

Hubba-hubba

Just how many Hubs does Thailand expect to become. Sooner or later, they will get a flat time.

We are now Commerce Ministry to push Thailand as fake jewellery hub.

What more?

It's not fake, just inexpensive and not-very-good quality, most of it. And then there are all those counterfeit-gems pushed at the poor tourists on day/half-day tours, does anyone ever seriously buy that stuff ? Hub of incautious tourist shoppers, perhaps ?

You obviously know little about the jewelry industry in Thailand. There is an entire industrial estate called Gemopolis, near Suvarnabhumi, where factories are pumping out high quality items for high street American and European brands.

This stuff never sees the streets of Bangkok.

If you know where to look there is also high end jewelry in Thailand to bought. Most of the gems pushed off on tourist are not fake just not of the quality they are sold as. Dealers form all over the world come to Thailand to buy jewelry of varing degrees of value.