{{Bangkok:}} September 24, 2007: The 40th edition of the {{Bangkok Gems and Jewellery Fair}} (BGJF) concluded on a high note and achieved an upswing in terms of stronger business, increased attendance and improved impression despite several odds. %% Reports indicated that the trade volume at the Fair, held from September 18 to 22, 2007 surpassed the 39th event’s record by 10%, while the number of visitors registered normal rate of 30,000-plus from 22,000 in the previous edition.

Challenging Adverse Imports:

“Clearly, it’s an unqualified success. It is beyond our expectation in the wake of adverse impacts like the sluggish global economy and more recently the US sub-prime loan fallout,” said {{Vichai Assarasakorn}}, Chief Executive of the BGJF Organizing Committee. %% Furthermore, he pointed out that nobody would have thought that the 40th BGJF could be organized at this scale and attract business and interests in the light of political and economical situation in Thailand and the withdrawal of the United States’ GSP tax relief for Thai-made gold jewellery. %% “However, the results that have come in are the testimony of the potency and good will of BGJF which is going from strength to strength in spite of all odds,” Vichai added. %% Many exhibitors agreed that the improvements over the previous Fair were also reflected in the quality of buyers, many of whom appeared to be keener with more specific shopping lists and intention to establish business links with suppliers and service providers. %% Helping the business at BGJF is the work of the B2B matching facility which enables buyers meet the right suppliers who can avail products, services as well as partnerships which are specifically required by them.

Win-Win Contacts:

“Both sides are pleased on how this unique tool assists them to pre-screen the right parties, interact on-line and then sit down face-to-face at the fair to create a win-win business relationship without wasting time,” the BGJF chief said. %% Another crucial contributor to the 40th BGJF’s success is a new focus on facilitating those buying delegations from abroad, specially arranged with the assistance from the Department of Export Promotion, to the Fair.

National Groups Meet Selected Exhibitors:

More than ten national groups from targeted markets such as India, Russia, Europe and the US have successfully met with selected exhibitors at the 40th fair. These overseas delegates, numbering over 60, included leading industry members in their respective countries. They have expressed satisfaction with the arrangement which has proved to be conducive to their business undertaking. %% In his speech at the opening of the 40th BGJF, Commerce Minister {{Krik-krai Jirapaet}} underlined a major role Thailand has played in the international gems and jewellery trade for becoming an important source of supplies for beautifully designed and well-crafted jewellery, finely cut gemstones and other goods. %% “In fact, buyers state that there is no better place than Thailand to look for colored gemstones. The Kingdom handles about 80% of the world’s gemstones trade and a centre for gem polishing involving more than 300,000 craftsmen,” he claims.

Precious Exports Growing:

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

20% Growth Targeted in 2007:

The outlook is positive for Thailand to achieve the targeted 20% growth for the whole of 2007 to reach $4.37 billion, Krik-krai added. It is estimated that half of the Thai gems and jewellery exports are achieved through the channels of BGJF, billed as one of Asia’s premier jewel showcases as well as ranked as the world’s fifth largest trade show. %% Though the BGJF has won praises from perfecting the standard of the 40th event, Vichai said the organizer will challenge itself to make the next BGJF, scheduled from February 27 to March 2, 2008, even more outstanding in all regards.