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Beautiful in Bangkok

Policies of Zero VAT for gemstones and Duty-Free privileges for jewellery, as well as a number of business matching and online sourcing programs, helped attract a record-breaking number of visitors who came to see the beautiful jewellery and gems on display at the 54th edition of the Bangkok Gems & Jewelry Fair, held September 9 to 13, 2014.



Beautiful in Bangkok

13 October 2014

By Cynthia Unninayar

Organized by the Thai Gem & Jewelry Traders Association (TGJTA) under the theme “The Power of Free Trade, Connect the World with Free Tax,” the 54th edition of the five-day Bangkok Gems & Jewelry Fair (BGJF) offered definite tax advantages for buyers and exhibitors. “Apart from other services and facilities that enabled our visitors to enjoy the easiest business transactions possible, the TGJTA in collaboration with the Thai government unlocked the tax barrier, setting the BGJF as a duty-free zone for gems and jewellery production,” explained Somchai Phornchindarak, President of TGJTA and the Gems, Jewelry, and Precious Metal Confederation of Thailand.

Beauty Gems, Ploi Thai Jewelry Creation Best Design (left) Dhevan Dara, Ploi Thai Jewelry Creation Best Design (right)
Beauty Gems, Ploi Thai Jewelry Creation Best Design (left)
Dhevan Dara, Ploi Thai Jewelry Creation Best Design (right)

Competitive Advantages

Through the efforts of the TGJTA, the tax advantages of doing business in Thailand are clearly evident. In addition, the nation offers a number of other competitive advantages. First, it is the world’s largest exporter and manufacturer of silver jewellery, from simple pieces to highly sophisticated designer products.

Stainless steel and leather bracelet by Inori.
Stainless steel and leather bracelet by Inori.

Secondly, Thailand is a global hub for coloured gemstones, importing rough from around the world and re-exporting the facetted gems to the four corners of the planet. Thirdly, the nation’s competitive labour force and quality craftsmanship attract brands from around the world, which source and manufacture their goods in the country, ranging from simple silver pieces to sophisticated high-end gemstone-studded gold suites.

F&R, Ploi Thai, Ploi Thai Jewelry Creation Best Design (left)Gem Production, Ploi Thai Jewelry Creation Best Design (right)
F&R, Ploi Thai, Ploi Thai Jewelry Creation Best Design (left)
Gem Production, Ploi Thai Jewelry Creation Best Design (right)

A large draw to the BGJF is the number and diversity of silver manufacturers. “Thailand is a good, interesting source of supply,” stated Arkadiusz Sypniewski of Polish company, A.S. Pracownia Zlotnicza, adding, “We always get new designs and suppliers always offer me new materials. I plan on increasing imports from Thailand by 25 percent this year.” Newcomer to the BGJF, Naresh Chitan, of India-based Zaveri Bros Jewellers, commented, “We plan to start importing from Thailand for hand-made silver jewellery. The BGJF offers us the opportunity to meet many suppliers in one place. It is a wonderful show.”

PKL Silver, Ploi Thai Jewelry Creation Best Design (left)D Quality Design, Ploi Thai Jewelry Creation Best Design (right)
PKL Silver, Ploi Thai Jewelry Creation Best Design (left)
D Quality Design, Ploi Thai Jewelry Creation Best Design (right)

Another major attraction is the trade in coloured gems. Simon Ghanimian, president of USA-based brand Simon G, and a frequent visitor to the BGJF, commented, “Thailand is the world capital of coloured stones, and we come here to source gems for our jewellery.” Sharing this sentiment, Lisa Wong, of USA-based brand, Nar Wong, stated, “In Thailand, we get a first look at a wide selection of gems before they will be offered at other fairs. This early advantage gives us the opportunity to purchase select stones before other companies.”

Dermond Anandara, Ploi Thai Jewelry Creation Best Design
Dermond Anandara, Ploi Thai Jewelry Creation Best Design

Importance of ASEAN+6

Increased competiveness is also projected for Thailand with the formation of the ASEAN Economic Community (AEC), which is comprised of Thailand, Indonesia, Malaysia, the Philippines, and Singapore. The 54th BGJF was the venue for the third ASEAN+6 Gems & Jewelry Presidents’ Summit, which included the ASEAN nations plus six important trade partners (China, India, Japan, South Korea, Australia and New Zealand). Leaders from the regional ASEAN region met with other government officials and private sector representatives to discuss the challenges facing each country as part of a regional trading block. The parties came closer to forming a working relationship and agreed to continue the ASEAN Gems and Jewelry Presidents’ platform into the future. Among the important issues discussed were cooperation between regional gems and jewellery trade fairs, raw material resources, and sharing of technology and knowledge.

One of the most interesting launches at the BGJF was by MKS, which introduced its new brand Mokonos, with a number of lovely lines of contemporary jewellery inspired by nature, art, and culture (left) Sapphire and diamond suite by Duang Kaew Jewelry (right)
One of the most interesting launches at the BGJF was by MKS, which introduced its new brand Mokonos, with a number of lovely lines of contemporary jewellery inspired by nature, art, and culture (left)
Sapphire and diamond suite by Duang Kaew Jewelry (right)

“As the AEC opens in 2015, it will be a new market of 600 million people with a very high capacity for the regional gems and jewellery industry,” commented Suttipong Damrongsakul, CEO of the BGJF Organizing Committee. He added that this market would pave the way for sales in Europe and the United States, and expressed confidence that, as part of the AEC, the BGJF would become a very effective link to the world.

The Zero VAT policy removes the seven percent duty on imported rough gemstones.
The Zero VAT policy removes the seven percent duty on imported rough gemstones.

Ploi Thai Creation: The Spirit of ASEAN 2015

Known internationally as Thailand’s country brand for jewellery design, Ploi Thai features high quality and diversified fine jewellery set with gemstones faceted in Thailand. For the 54th BGJF, a design contest was open to Thai designers and brands to craft jewellery under the theme “The Spirit of ASEAN 2015.” Representing the character of the ASEAN nations, the winners of this competition were seen in a special exhibition at the show. Other examples of outstanding Ploi Thai jewellery were also featured in a special exhibition inside the fair.

The Gemological Institute of Thailand (GIT) provided lab services to buyers at the BGJF to verify potential gemstone purchases.
The Gemological Institute of Thailand (GIT) provided lab services to buyers at the BGJF to verify potential gemstone purchases.

Onsite Lab Services

For buyers wishing to have prospective gemstone purchases analyzed, the prestigious Gem Institute of Thailand (GIT) conducted a temporary laboratory during the BGJF. Attracting long lines of buyers wishing to reassure themselves and verify their purchases, testing was completed in generally less than an hour, at very reasonable prices. The highly rated GIT, under the directorship of Mrs. Pornsawat Wathanakul is a member of the Laboratory Manual Harmonization Committee (LMHC), made up of the world’s seven leading gemmological laboratories.

Intricate multi-gemstone snake bracelet/ring by Mahallati (left) Silver and gemstone ring and pendant by Goldlip.
Intricate multi-gemstone snake bracelet/ring by Mahallati (left)
Silver and gemstone ring and pendant by Goldlip.

The next Bangkok Gems & Jewellery Fair will be held February 24 to 28, 2015, at the city’s very modern Impact Challenger Centre.

Carved horses by Thai brand, KdeCraft (left) Gold and gemstone bracelet by Prima Gold by Pranda (right)
Carved horses by Thai brand, KdeCraft (left)
Gold and gemstone bracelet by Prima Gold by Pranda (right)

www.bangkokgemsfair.com

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The 53rd Bangkok Gems & Jewelry Fair will be proceeding as scheduled - 11 February 2014
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