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Bangkok Gems and Jewelry Fair ends on high note

October 01, 2007

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Bangkok, Thailand—The 40th edition of the Bangkok Gems and Jewelry Fair (BGJF) concluded last week, with organizers reporting stronger business and increased attendance.

Preliminary reports indicate that trade volume at the fair surged 10 percent over the previous edition, and the number of visitors increased from 22,000 for the fair's 39th edition to more than 30,000 for the event held from Sept. 18-22.

"Clearly it's an unqualified success," Vichai Assarasakorn, chief executive of the BGJF organizing committee, said in a statement. "It is beyond our expectation in the wake of adverse impacts like the sluggish global economy and, more recently, the U.S. sub-prime loan fallout."

Assarasakorn cited an increased quality of buyers as one factor to exhibitors' satisfaction. Assarasakorn said buyers appeared to be more keen, with specific shopping lists and the intention of establishing new business links with suppliers and service providers.

Organizers also employed a new focus on facilitating buying delegations from overseas, with special assistance from the Department of Export Promotion. More than 10 national groups from such markets as Europe, India, Russia and the United States met with exhibitors at the fair.

Helping to more easily facilitate business was the work of a business-to-business matching tool that enables buyers to meet suppliers who can meet their specific requirements, thereby cutting down on time.

In an opening speech given by Thailand's Minister of Commerce Krik-krai Jirapaet, the minister underlined the major role Thailand has placed in the international gems and jewelry trade as providing an important source for jewelry and finely cut gemstones.

According to the minister, Thailand's gems and jewelry exports last year exceeded $3.6 billion, up 12.7 percent from the previous year. In the first seven months of this year, gems and jewelry exports increased 5.41 percent year-on-year to $2.18 billion.

The next edition of the Bangkok Gems and Jewelry Fair will take place from Feb. 27-March 2, 2008.
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