New Delhi, Jun 1 (IANSlife): The Bangkok Gems & Jewelry Fair (BGJF) is all set to be held virtually between June 22 and 24 under the name of "BGJF Virtual Trade Fair (The 66th Special Edition)".
The event will feature products with latest innovation, many up-and-coming artisans and designers, exquisite pieces of top craftsmanship and manufacturing companies as well.
It will serve as an online platform for gems and jewellery trading and networking, where buyers and exporters from all over the world will be able to conduct businesses and build long-term trading relationships despite the Covid-19 restrictions.
Moreover, key players in the industry, including Thai Silver Exporters Association, Department of International Trade Promotion (DITP), Ministry of Commerce and other related agencies can provide useful and necessary information to assist businesses and individuals in their buying process.
Thailand, one of the main Jewellery exporters in Asia, is renowned for its jewellery resources, design, manufacturing and exquisite craftsmanship. In the recent years, Thai silver jewellery has gained popularity as it is more affordable compared to other metals such as gold and platinum.
The export value of Thai silver jewellery from January-March 2021 is totalled at $371.30 million, an increase of 6.46 per cent from the same period of last year, mainly driven by higher demand and sales volume according to the Department of International Trade Promotion (DITP).
The industry is forecasted to see a rise in exports of silver jewellery and accessories throughout 2021.
Consumer appetite for jewellery and accessories, which has been dampened by Covid pandemic has started to increase due to the dynamic of the industry and changes in consumer behaviour. One of the main indicators is the value of the global jewellery market, which is expected to rise from $230 billion in 2020 to $292 billion by 2025 according to Statista.com.
Gems and jewellery industry in Thailand offers flexibility in terms of OEM services from sourcing, designing, packaging to manufacturing. Buyers are able to address their demands, quality, quantities and budget, enabling it to be a major jewellery trading hub in Asia.
One of the country's main export markets is India, with an export value of $143.97 million USD from January-March 2021. Apart from silver jewellery and accessories, Indian market is the third largest buyer of Thai coloured gemstones due to their fine craftsmanship, competitive price and excellent quality.