As one of Thailand’s top export industries, gems and jewelry ranked nineth in Thailand’s highest revenue-generating industries in 2021, with a value of nearly 2 hundred billion baht (US$5.5 billion) and a workforce creating over 664,000 jobs.
Bangkok Gems & Jewelry Fair (BGJF) is one of the world’s most renowned and longest-celebrated gems and jewelry trade fairs in the industry. Organized by Thailand’s Department of International Trade Promotion (DITP) and Gems Jewelry Institute of Thailand (Public Organization) or GIT, BGJF is regarded as a significant trading arena where all key players in the global gems and jewelry business can achieve their purposes of sourcing, trading and networking.
The 67th edition of BGJF (7-11 September 2022) was the first full-scale offline jewelry trade fair in Thailand after a two-year pause. The five-day fair has well exceed the expectations. 17,000 visitors visited the show – an increase by 82% from the previous edition. There was a record of 1,020 exhibitors in 2,004 booths from across the world, which exceeded the target by 30%. The fair has also generated a turnover of more than 3 billion baht (US$80.75 million).
In this exclusive interview, you can gain insight from Mr. Phusit Ratanakul Sereroengrit, Director-General of DITP on Thailand’s gem and jewelry industry and the 67th BGJF.
“BGJF enhances Thailand’s position as a leading exporting country as it connects Thai businesses with the global gems and jewelry community. For international buyers and importers, it is a venue to source a complete range of high-quality products under one roof.” – Phusit Ratanakul Sereroengrit, Director-General of DITP.
Why is the September 2022 (67th edition) Bangkok Gems & Jewelry Fair an important trade event for both Thailand as an exporting country and the buyers around the world?
Mr. Phusit Ratanakul Sereroengrit: As one of the world’s most renowned and longest-celebrated gems and jewelry trade fairs, Bangkok Gems and Jewelry Fair (BGJF) is the event distinguished by the professionalism of the exhibitors and the quality of the presented products. The 67th edition from 7th to 11th of September 2022, in particular, was the first full-scale physical trade fair celebrated after the COVID-19 pandemic. To ensure greater success, in this edition, the Department of International Trade Promotion (DITP) has worked with the Gem and Jewelry Institute of Thailand or GIT in co-organizing the fair, so both organisations can employ their strengths, networks, and allies to promote it and invite prominent figures in the industry to participate in this event. Hence, BGJF is the one-stop destination for gems and jewelry products, from gemstones, jewelry, packaging to equipment, tools and machinery from Thai and international brands.
BGJF enhances Thailand’s position as a leading exporting country as it connects Thai businesses with the global gems and jewelry community. For international buyers and importers, it is a venue to source a complete range of high-quality products under one roof. In addition, international buyers and visitors were welcomed by the remarkable Thai hospitality which reflects inherent service mentality of the culture it stands in. At the same time, attending BGJF can serve both business and pleasure purposes as Thailand is one of the world’s top tourist destinations.
What are the highlights and special features of the 67th edition of BGJF?
Mr. Phusit: Some highlights of the 67th edition include the Networking Reception where key figures in the gems and jewelry industry, international buyers, trade missions, representatives from DITP and GIT, ambassadors and VIPs from Thailand can meet up, exchange information, get connected and expand the business networks while enjoying a jewelry presentation.
There were a series of exciting showcases. “The New Faces” exhibition, highlighting the talent of Thai artisans, the creativity of young designers and new collections from up-and-coming jewelers across Thailand. “The Jewellers” exhibition, featuring uniquely designed and innovative jewelry pieces with appeal for global market of 20 top Thai designers from the Designers’ Room and Talent Thai projects. “The Jewel Wonders” exhibition, displaying gems and jewelry products of BGJF’s exhibitors and jewelry trends. To expand business opportunity even further, there were both physical and digital platforms for B2B business matching. Also, a series of seminars focusing on enhancing the competitiveness of entrepreneurs and increasing knowledge on business practices that adapted to the current global business context have been organized throughout the event including topics on potential markets, products, design, e-commerce and social media tools.
Are the exhibitors from Thailand or around the world? Which product categories were the focus?
Mr. Phusit: This edition of BGJF has drawn an overwhelmingly positive response from the global industry. The fair hosted more than 1,000 exhibitors from Thailand and all over the world. Emphasizing on the significance of Thailand as the region’s trading hub for gems and jewelry, the fair was also joined by exhibitors from CLMV (Cambodia, Laos, Myanmar and Vietnam) countries.
As a comprehensive trade fair, BGJF exhibits products include every category from gemstones, which is the largest group of all, diamonds, pearls to jewelry collections spanning virtually all styles and price points.
What were the buyer numbers and regions? What initiative has the show organizer taken to attract buyers around the world and make their travel and stay convenient, pleasant and safe?
Mr. Phusit: With travel restrictions due to COVID-19 are still enforced in some regions, especially from Mainland China, the show has registered great attendance with around 17,000 visitors. To facilitate international buyers, we have implemented several initiatives, including the tax-free exemption for gems and jewelry products traded in the fair, free shuttle bus services and VIP lounge with complimentary food and drinks within the fair (limited offers). Buyers were also recommended to pre-register on our website www.bkkgems.com to save time for registration. In terms of public health measures, visitors have been required to present the ATK result (within 48 hours) or vaccination certificates upon arrival to prevent the spread of COVID-19. Exhibitors are required to submit the ATK results 48 hours before the fair and every 48 hours during the fair, so visitors can rest assured that the fair has a safe environment.
September 2022 BGJF was the first important physical jewelry trade show in Thailand since the pandemic hit in 2020. Do you think the in-person trade show is still important since a lot of trade activities have turned virtual?
Mr. Phusit: Definitely. An in-person trade show allows attendees to compare their buying options and the ability to see, feel and experience which is especially important for gems and jewelry that are of high value. In addition, it is a venue to meet and reconnect with other entrepreneurs and business counterparts in the industry from Thailand and from all over the world. Hence trade opportunities and possibilities are limitless in this fair.
Was BGJF Virtual Trade Fair (VTF) 2022 held as a prelude of the in-person BGJF? How will the virtual fair and the in-person trade shows interact, support and benefit each other? Do you regard such a hybrid model as a trend?
Mr. Phusit: With COVID-19 making it impossible for many trade shows to go ahead, we had decided to switch ours to virtual events to fill the void. BGJF Virtual Trade Fairs were indeed proven successful, receiving positive feedback from the global gems and jewelry industry.
However, despite this shift it seems that the desire for face-to-fact contact is still irreplaceable as it allows exhibitors to connect on a more personal level and buyers to see products ‘in the flesh’.
As hybrid models enable unique engagement opportunities, it is therefore under our consideration depending on the circumstances. We are ready to adapt as digital transformation is part of DITP’s proactive approaches to drive exports. In the meantime, as travel restrictions have eased, we want to focus on organizing the physical fairs for now.
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