Thailand’s gems and jewelry industry embraces digital transformation. DITP announces ‘BGJF Virtual Trade Fair (The 66th Special Edition)’, Asia’s most comprehensive online trading platform.
10 June 2021, Bangkok – Mr. Nantapong Chiralerspong, Deputy Director General of The Department of International Trade Promotion (DITP), Ministry of Commerce, presided over the online press conference of ‘BGJF Virtual Trade Fair (The 66th Special Edition)’, a virtual trade fair for gems and jewelry between 22-24 June 2021 via www.BGJF-VTF.com. This online event aims to create new opportunities in global trade for gems and jewelry entrepreneurs in the new normal.
Bangkok Gems and Jewelry Fair or BGJF, organized by the Department of International Trade Promotion, Ministry of Commerce, is one of the five most important international gems and jewelry fairs in the world. The fair has been held continuously for 65 times. However, due to the COVID-19 pandemic, DITP had to pivot the fair into a digital edition for the first time. The results were very positive. In 2021, with the ongoing pandemic crises in many countries, DITP has decided to host the second virtual trade fair for gems and jewelry to support entrepreneurs in global trade amid the time of travel restrictions.
The Deputy Director General of DITP said that “this online event aims to create new opportunities in global trade for gems and jewelry entrepreneurs and enable them to ‘REFILL-REFORM-REFINE’ in these challenging times through marketing innovations in the new normal. This is part of 14 roadmaps of the Ministry of Commerce led by Mr. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce.”
Thailand’s gems and jewelry has long been a renowned industry and is an important economic sector that drives the nation’s economy and ranked 12th in the country’s export value. However, due to the COVID-19 pandemic, Thailand saw a decline of 39.89% in gems and jewelry exports in 2020, but the country still ranks first as the world’s silver jewelry
exporter and third in the gemstone category after the United States and Hong Kong. Mr. Chiralerspong said that it is expected that the situation will ease in 2021. “We have seen good signs for exports this year, thanks to the recovering economic situation and the increased confidence of the consumers in our targeted markets. Since the end of 2020, many countries’ economies have begun to recover. As for Thailand, orders have increased, especially from online customers in countries such as The United States and The United Kingdom. In the first quarter of 2021, Thailand’s gems and jewelry exports were valued at 53,758 million THB, a 1.10% increase, and are expected to grow at least 5% by the end of the year.”
The Deputy Director General highlighted that BGJF Virtual Trade Fair (The 66th Special Edition) is a virtual trade fair available to everyone free of charge. He also estimated that the results will turn out as planned. “The BGJF platform is designed to make visitors feel as if they were in a real trade fair. It will feature the digital showcases of more than 600 companies from across the world along with the online business matching services that can be booked in advance directly or through trade commissioners around the world. This event is expected to have at least 450 online business matchings and 500 million THB in revenue. To help support entrepreneurs whose businesses are affected by the COVID-19 pandemic, these special sessions are free of charge,” said Mr. Chiralerspong.
Apart from the showcase and business matching, visitors are invited to learn more about gems and jewelry trends and participate in other activities, including online seminars by The Gem and Jewelry Institute of Thailand (GIT) and the BGJF Flash Sale, which are the special Live Streaming sessions, along with gems and jewelry key trend reports.
The second part of the online press conference of ‘BGJF Virtual Trade Fair (The 66th Special Edition)’ featured a talk on the topic of “Jewelry Key Trends: Directions of the Gems and Jewelry Market after COVID-19” with speakers included Mrs.Nisabudh Virabutr, Director of Office of Lifestyle Trade Promotion, DITP, Sarran Youkongdee, designer and founder of SARRAN, and Dr. Thitiporn Sathavornmanee, Director of Luxellence Center. The press conference ended with a special jewelry fashion show ‘Journey Through The Gemniverse’
featuring Thailand’s leading celebrity models like Kanticha ‘Ticha’ Chumma, Wiraya ‘Gina’ Phattharachokchai, Attila Gagnaux and many more.