Developing Thailand as a Gem and Jewelry Hub in the World

(14/11/2012)

Gem and jewelry producers have been urged to focus on creative manufacturing, as Thailand is developing itself into one of the world’s gem and jewelry hubs. The Director-General of the Department of International Trade Promotion, Mrs. Srirat Rastapana, said that the public and private sectors had met constantly to prepare Thailand in various sectors for achieving the goal of becoming a global gem and jewelry trading center. Toward this aim, she said, the Department of International Trade Promotion has set strategies for developing and promoting the Thai gem and jewelry industry. The strategies include enhancing the competitiveness of the industry in terms of production, processing, designing, and management. The strategies also involve studying marketing in foreign markets and developing personnel in the gem and jewelry business, in order to cope with business expansion. In this regard, she said, Thai entrepreneurs need to develop their products with an emphasis on quality and creativity, so that Thai gems and jewelry products would gain more recognition in the world market. As creativity is an important aspect of the production of gems and jewelry, these products have been classified as creative goods. The Government has a policy to develop and promote Thai gems and jewelry in order to add value to these creative goods for entrepreneurs, designers, and craftsmen. The gemstone and jewelry industry is also among Thailand’s top foreign exchange earners, and it generates employment for 1.1 million people in the country. Mrs. Srirat said that, from January to September 2012, Thai gem and jewelry exports amounted to 10.9 billion US dollars, an increase of 11 percent over the same period in 2011. Major markets with good export growth include Hong Kong, Germany, and Japan. The global economic slowdown has led to the decline in Thai gem and jewelry exports to the United States by 9 percent, India by 22 percent, and Belgium by 0.3 percent. However, exports to emerging markets such as the United Arab Emirates and Lebanon are on the rise. Thailand successfully exported 12.3 billion dollars of gems and jewelry products in 2011. Exporters hope to maintain exports in 2012 at close to the level of 2011. Thailand is famous for the fine craftsmanship of its jewelers, especially when it comes to setting each piece of jewelry by hand. The quality of Thai gems and jewelry, with a variety of materials and designs, is also recognized internationally. All types of manufacturing processes are available in Thailand, from mass production to fine handcrafted pieces of jewelry. The Government will launch campaigns to promote the image of Thai gems and jewelry, and it will ask the private sector to help provide training for skill development in this industry.