By Dominick Rodrigues
Bangkok: Come June 22 and Thailand will be holding the +Bangkok Gems & Jewelry Fair+ (BGJF) virtually for global trade.
Described one of the largest gems and jewellery trade fairs in the world, the three-day event titled “BGJF Virtual Trade Fair (The 66th Special Edition)” will highlight latest, innovative products, up-and-coming artisans and designers, exquisite pieces of the world’s top craftsmanship and nationally-renowned manufacturing companies.
The Fair is also an ‘online’ platform – amidst COVID-19 restrictions – of gems and jewellery trading and networking for global buyers and exporters, who are seeking to do business and build long-term trading relationships.
The event will also provide information about business assistance and buying processes through key players in the industry, including the Thai Silver Exporters Association, Department of International Trade Promotion (DITP), Ministry of Commerce and other related agencies.
Thailand–renowned for its jewellery resources, design, manufacturing and exquisite craftsmanship—is popular for its Thai silver jewellery, which is more affordable compared to gold and platinum.
Thai silver jewellery exports in January-March 2021 stood at US$ 371.30 million — an increase of 6.46 percent compared to the same period last year – and were mainly driven by higher demand and sales volume, the Department of International Trade Promotion (DITP) stated, adding that the industry has forecast rise in exports of silver jewellery and accessories this year.
India remains one of Thailand’s main export markets with an export value of US$ 143.97 million from January-March 2021, besides also being the third largest buyer of Thai colored gemstones due to their fine craftsmanship, competitive price and excellent quality.
Meanwhile, consumer appetite for jewellery and accessories is witnessing an increase due to changing industry dynamics and consumer behavior with one main indicator being the value of the global jewellery market, that is expected to rise from US$ 230 billion in 2020 to US$ 292 billion by 2025, according to Statista.com.
