The 70th ‘Bangkok Gems’ has begun, with an expected turnover of over 100 million US dollars.

'Ministry of Commerce' opens the 70th Bangkok Gems Fair with spectacular views, expecting over 100 million USD or around 35 billion baht in circulation. Mr. Wutthikrai Leewiraphan, Permanent Secretary of the Ministry of Commerce, presided over the opening ceremony of the 70th Bangkok Gems and Jewelry Fair at the Queen Sirikit National Convention Center (QSNCC), organized by the Department of International Trade Promotion (DITP) in collaboration with the Gem and Jewelry Institute of Thailand (Public Organization) or GIT, and supported by government and private organizations, including 16 major trade associations in the industry, held from 9 - 13 September 2024, with a full exhibition area on the G and LG floors (Halls 1 - 8). Mr. Wutthikrai said that the Ministry of Commerce has continuously organized the Bangkok Gems and Jewelry Fair for over 40 years to provide opportunities for entrepreneurs at all levels to meet and negotiate business at the international level. The Bangkok Gems Fair has grown exponenti ally in the past few years, and is now one of the four major gem and jewelry fairs that traders from around the world must visit. The 70th Bangkok Gems Fair has received an overwhelming response, with participants from Thailand and over 20 countries, totaling over 1,100 exhibitors, 2,470 booths, displaying the entire space on the G and LG floors. It is expected that there will be over 40,000 visitors and that the trade value will be over 100 million US dollars. The Bangkok Gems Fair is a key mechanism that helps push Thailand to become the world's leading gem and jewelry trade hub today. Gems and jewelry industry is considered one of the top 10 export industries that continuously generates the highest income for the country. Although in the past, the world, including Thailand, has faced economic slowdown and various challenges, Thailand's gems and jewelry exports (excluding unwrought gold) have grown continuously. In 2023, it expanded by 8.40 percent and for the first 7 months of 2024, it expanded by 6.7 per cent when compared to the same period last year. Mr. Phusit Ratanakul Sereeringrit, Director-General of DITP, the main organizer, said that the products displayed in the event cover all product groups, with over 50 percent being colored gems. The satisfaction assessment of exhibitors and visitors at the 69th event found that the average satisfaction was excellent at over 95 percent, and it was considered the best event when compared to the overall picture of important gem and jewelry exhibitions around the world. Due to the increasing demand for participation in the event, in 2025 we have a plan to expand the exhibition area in the Foyer area in front of the entrance of the LG floor building and adjust the layout of the booths, which is expected to be able to accommodate the demand of more than 150 additional exhibitors. Mr. Sumet Prasongpongchai, Director of GIT, a co-organizer, said that in addition to Bangkok Gems being a major global trade negotiation platform, it is also a platform for creating busines s alliances, exchanging knowledge, and building an image for the industry through special activities and many related parallel activities, covering all dimensions in a comprehensive manner. Mr. Sittichai Prinyanusorn, Deputy Director (Business), GIT, revealed that there are interesting zones in the event, such as The New Faces exhibition zone, which presents the work of new entrepreneurs with potential, such as the new generation designers group, The Jewellers by DITP, entrepreneurs from the Smart Jewelers by GIT project, and local entrepreneurs in Chanthaburi Province led by the Provincial Commerce Office, etc., totaling more than 60. There are also many other special activities and parallel activities, such as the exhibition of gems and jewelry products from Thai craftsmen, 'The Spirit of Jewelry Making,' the Networking Reception activity, and more than 10 seminars in the event, covering knowledge related to the industry, both in terms of technique and marketing, etc. In addition, there are special service s from GIT, such as gem inspection services that meet international standards and issue certificates during the event. GIT also launched LED light cabinet technology for gem color inspection, which is a research result of GIT. In 2023, Thailand exported gems and jewelry (excluding unwrought gold) worth 8,658.11 million US dollars, an increase of 8.40 percent. For the first 7 months of 2024, Thailand exported worth more than 5,103.78 million US dollars, an increase of 6.7 percent when compared to the same period last year. Source: Thai News Agency