GIT: Thailand to Become the World Gem and Jewelry Trading Hub by 2021

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Gem and jewelry experts from across the globe will gather to attend the World Ruby Forum 2017 in Bangkok, Thailand to share their insights on world ruby activities in all dimensions from upstream to downstream. GIT director states that the organization will develop and implement strategies to establish Thailand as the global gem and jewelry trading hub by 2021.

“To promote and support the gem and jewelry industry in 2018, the Gem and Jewelry Institute of Thailand (Public Organization) or GIT has set up strategies with specific objectives which includes enhancing the industry’s potential to meet international standards, creating new markets, and expanding the marketing and distribution channels,” said Mrs. Duangkamol Jiambutr, Director of GIT.

“We are working towards creating a country image to support Thailand as the global gem and jewelry center that will develop customer’s confidence in the quality and standard of Thai jewelry products. Moreover, GIT is developing and promoting digital marketing channels for the industry while increasing the capability of comprehensive research and innovation development in the gem and jewelry industry.
GIT also maintains our position as the professional organization that coordinates and establishes the cooperation between the public and private sectors both domestically and internationally.”

In order to promote Thailand’s image and the country’s potential to become one of the leading global gem and jewelry trading hubs, GIT and its partners will co-host the World Jewelry Confederation: CIBJO Congress 2017, the largest annual meeting for the world gem and jewelry industry, from November 2 to 7 at Shangri-La Hotel, Bangkok with around 350 domestic and international participants expected to attend the congress.

Moreover, the CIBJO Congress 2017 will be held in conjuction with the World Ruby Forum, which will take place at the same venue on November 4. Participants will join in seminars on every aspect of rubies from upstream to downstream, shared by the world’s leading gem academics, experts, and businessmen from both public and private sectors.

Moreimportantly, honorable guests are invited to attend the special gala dinner in the evening of November 4 at the Shangri-La Hotel, Bangkok to witness the extravagant ruby fashion show and the Hearts of Children charity auction, donated by renowned jewelers. Income after expenses will be donated to the SafeguardKids.org

“We are proud to see Thailand as the host of the congress and forum and this shows our readiness to become the leader in the world gem and jewelry industry,” said Mrs. Jiambutr.

GIT is cooperating with the Department of International Trade Promotion or DITP to elevate Thailand’s gem and jewelry industry in order to boost consumers’ confidence in Thai gems and jewelry in the overseas markets. The institute also educates the public about the standard of colored stones including ruby and sapphire to support Thailand as the world leading Gem and Jewelry trading center since the colored stones export generate several hundred billions baht of revenue to the country, Mrs Jiembutr added.
In 2016, Thailand exported US$669.25 million (23.51 billion baht) of polished precious colored stone, a 6.51% growth compared to the previous year and represented a 62.73% share of colored stone’s gross export value, which was US$1,066.68 million (37.49 billion baht). Meanwhile, Thai exports of polished ruby amounted to US$275.29 million (9.67 billion baht), a 16.37% increase from the previous year and accounted for 41.13% of the total colored stones exports.

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