Thailand Optimistic About Jewelry Business

RAPAPORT... Thailand's gem and jewelry exports climbed2% to almost $13 billion in 2017, excluding gold, Commerce Minister SontiratSontijirawong said in his opening address at the Bangkok Gems & JewelryFair last week.An improving economic outlook in keymarkets for Thai-manufactured jewelry, such as the US, provides optimism forcontinuing growth in the country's gem exports, according to governmentofficials. "The key driver is the improving worldeconomy," noted Chantira Jimreivat Vivatrat, director-general of thestate-backed Department of International Trade Promotion (DITP), whichorganized the event. "We have been helping Thai companies withtheir marketing, and have provided a favorable tax regime for manufacturing,"she added. The Gem and Jewelry Institute of Thailand(GIT) has enjoyed improved Chinese demand for its colored-gemstone gradingservices, its deputy director, Boontawee Sriprasert, noted. This reflected stronger consumer demand for those products inthe important market, Sriprasert added. Gems and jewelry represent Thailand's third-largestexport trade after the automotive and computing sectors, the DITP said.The exhibition showcased Thai artisanal anddesign skills, with innovative stands featuring jewelry products from small andmedium-sized companies across the country. Around 900 companies - including more than 12 new exhibitors - in 2,200 booths took part in the show, attracting retail buyersfrom around the world. Thailand has a long tradition of manufacturingand exporting gold, silver and colored-gemstone jewelry, using a highly skilledworkforce and cutting-edge technology, backed by tax exemptions.