News Bureau

June 11, 2021

DITP: Aiming to drive growth of the gems and jewelry business via online channel

Department of International Trade Promotion (DITP) continues to expand success, gearing up for BGJF Virtual Trade Fair (The 66^th Special Edition), aiming to drive growth of the gems and jewelry business via online channel

Mr. Nantapong Chiralerspong, Deputy Director General, Department of International Trade Promotion (DITP), Ministry of Commerce, presided over the online press conference to announce the preparation of BGJF Virtual Trade Fair (The 66^th Special Edition). The said event is to be held during June 22-24, 2021 via website www.BGJF-VTF.com, aiming to create channels and opportunities for entrepreneurs to reach buyers and importers worldwide in the New Normal era.

Bangkok Gems and Jewelry Fair or BGJF is one of the world's top five gems and jewelry trade fairs organized by Department of International Trade Promotion (DITP), Ministry of Commerce, for 65 consecutive times. Due to the impact of the COVID-19 outbreak, DITP changed the format to organize the virtual trade fair via online system for the first time in the past year 2020, and the event received a great response. In 2021, the outbreak situation continues to spread widely in many countries, so the virtual trade fair is required to be held for the second time, aiming to create channels and opportunities for entrepreneurs to reach buyers and importers worldwide during the time when entrepreneurs and foreign businessmen are unable to travel internationally like in the normal situation.

Mr. Nantapong Chiralerspong, DITP’s Deputy Director General, stated that “This event aims to create channels and opportunities for entrepreneurs to reach buyers and importers worldwide, and helps entrepreneurs to 'defense, adapt, and find opportunities' under the crisis by modifying the format, that is, to provide marketing services to expedite exports in the New Normal era, which is one of the 14-point plans of the Ministry of Commerce according to the policy of Mr. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce.”

Gems and jewelry industry is a significant industry to the economic development of the country, and it is an important export product which earns the 12^th highest income in the country. The situation of the COVID-19 outbreak caused Thai gems and jewelry exports in 2020 to a decrease by 39.89%. However, Thailand still ranks as the number one exporting country of silver jewelry in the world, and ranks third in the world's colored gemstone exporting countries after the United States and Hong Kong. Deputy Director General of DITP has forecasted a bright future of export in 2021, “Exports will likely improve in 2021 as economic factors and consumer confidence in the key markets begin to return positive. Since the end of 2020, many countries’ economy has begun to recover. As a result, the number of orders placed to Thailand, especially from online shoppers in the United States and the United Kingdom, has increased. In addition, during the first four months of 2021, the total value of Thai gems and jewelry exports was 53,758 million baht, growing by 1.10%, and the exports throughout 2021 are expected to grow at least 5%.”

Mr. Nantapong mentioned this year's BGJF Virtual Trade Fair that interested business people can participate in this virtual trade fair free of charge, and estimated that the trading value through the virtual platform definitely exceeds the target. “To organize this event, the DITP has developed a platform to meet more users' requirements by simulating the atmosphere of the physical trade show, and showcasing products of more than 600 companies, while the other services are direct online business matching and trade partner appointments in advance, or through Thai commercial consuls worldwide. It is expected that this event will contribute to no less than 450 online business matchings, and set a target of not less than 500 million baht in turnover. Moreover, to heal entrepreneurs affected by COVID-19, the DITP does not collect any expenses for participating in the activities.”

In addition to online trade partner matching activities, the www.BGJF-VTF.com platform also offers other interesting activities during the event, for example, seminars organized by the Gem and Jewelry Institute of Thailand (GIT), Live Streaming promotional activities, etc., as well as interesting and update gems and jewelry trends information.

Interesting activities during the 2^nd session of the online press conference on the BGJF Virtual Trade Fair is a special talk on the topic “Jewelry Key Trends: Trends in the Gems and Jewelry Market after the COVID Era” by Mrs. Nisabudh Virabutr, Director of the Office of Lifestyle Trade Promotion, DITP, in association with Mr. Sarran Youkongdee, a famous Thai designer from the brand SARRAN, and Dr. Thitiporn Sathavornmanee, Executive Director of Luxellence Center, and ending with a fabulous fashion show by famous models, such as Ticha-Kanticha Chumma, Gina Virahya Pattarachokchai, Attila Gagnaux, under the concept “Journey Through The Gemniverse” of BGJF.

The BGJF Virtual Trade Fair (The 66^th Special Edition) is scheduled to be held during June 22-24, 2021 via the website www.BGJF-VTF.com. Interested buyers can register to participate in the trade negotiations from now on.