The event is designed to boost the country’s gems and jewellery exports to both existing and new markets.
“Gems and jewellery generate high export value for the country, especially the value added products,” he said.
The gems and jewellery sector recorded exports valued at US$12 billion or about Bt383 billion in 2018, the third highest export product in term of value. The industry employs some 1.2 million people nationwide.
Banjongjit Angsusing, director-general of the Commerce Ministry’s International Trade Promotion Department, said that more than 1,000 firms of all sizes were participating in the fair, which this year has as its theme “Thailand’s Magic Hands: The Spirit of Jewellery Making”.
She also expects more than 20,000 traders from 130 countries to join the event and more than Bt2.4 billion to be raised in orders over the five days, an increase of one per cent over last year.
In the first seven months of this year, Thailand exported gems and jewellery worth US$9.02 billion, up 29.28 per cent over the same period of last year. The main export markets are Switzerland, Hong Kong, Singapore, USA and India, she added.