57th BGJF set to underscore Thailand as the prominent gateway to ASEAN

 57th BGJF set to underscore Thailand as the prominent gateway to ASEANThe scale and organisation of the 57th edition of the Bangkok Gems Jewelry Fair (BGJF) is being undertaken such so as to distinguish Thailand as the prominent gateway to ASEAN. It is slated to be held at Bangkok’s IMPACT Exhibition and Convention Center from February 24 to 28.

Despite providing an additional 3,500 booths this year, organisers note that commercial space for the 57th edition is filling fast. Over 1,500 exhibitors with over 3,000 booths attended the 56th BGJF last September. Organisers anticipate gross export revenues to top Bt400,000 million or US $12.8 billion.

“The objective of the fair is for foreign buyers to come and place orders, which is why the fair is held twice a year,” says Mr. Somchai Phornchindarak, Chairman of the Gems, Jewelry and Precious Metal Confederation of Thailand. Mr. Suttipong Damrongsakul, President of the Thai Gem and Jewelry Traders Association (TGJTA), notes “We would like to encourage new innovation from exhibitors, as we want to present to foreign buyers the potential of Thai gems and jewelry companies.”

Chantira Jimreivat Vivatrat, the Deputy Director-General of the Department of Trade and Promotion (DITP) spoke of government support to the Thai gem and jewelry industry. One such is lifting of 20 percent tax on imported gems and jewelry sold at the 57th BGJF, enabling foreign exhibitors to import and sell gems and jewelry from other countries duty-free, while local exhibitors can reduce their prices through reduced imported costs. The import duty-free incentive is only for exhibitors endorsed by TGJTA, non-endorsed vendors will still pay the standard 20 percent import tax. A 7 percent VAT applies to all exhibitors, local and foreign. The government has given a concession of Zero VAT privilege, where buyers of rough gems and raw materials are exempted from paying the 7 percent tax.

Mr. Somchai spoke of the government efforts to support the industry with promoting exports and developing overseas.

This edition wills see a series of design pavilions including the DITP’s Thai Design Pavilion and one by Gemsfield UK, seminars, contests, trend updates and special offers, high security measures and a mobile application allowing buyers to connect with sellers, and providing a floor plan of all exhibitions. A shuttle service will be available to and from Bangkok’s five-star hotels.

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