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   Thai jewellery companies will have an opportunity to display their wares at the upcoming Baselworld Watch & Jewelry Show. Thailand, which has been participating in Baselworld as a country pavilion since 2005, will have a strong presence at this year's event, to be held March 19-26, 2015 in Basel, Switzerland. Visitors from the specialist retail and wholesale trade make their way to Basel from all over the world to discover the current trends and view the latest creations from the watch and jewellery sectors. The presentation staged at Baselworld provides an opportunity to experience world at the topmost level.

   Coming hard on the heels of the February Bangkok Gems & Jewelry Fair, the Baselworld Show gives Thai companies still another world-class forum, in the first quarter of the yearm to present the very best of Thai jewels to the topmost echelon of the international gem and jewellery industry.

   Some Thai industries may remain competitive, but other nations have been doing better in manufacturing. Fot this reason, Thai industrialists need to increase their efforts toward adding value to their products, making them more desirable; or they may have to consider shifting production to offshore locales to cut costs. Jewellery is a major Thai export and the US is a major Thai export market, so it should be good news for Thai exports that Americans have been spending more money on jewellery recently as the US economy recovers and especially on gold jewellery.

   Americans spent $4.8 billion buying jewellery for loved ones this Valentine's Day, the most in many years. Valentine's Day is the biggest US holiday for giving jewellery after Christmas, with more than 8% of the year's sales occurring during February. About 21% of respondents in a recent survey in the US said they planned to buy jewellery for this Valentine's Day on February 14, up from 19% in 2014 and the most for many years. US jewellery demand in the three months ended December 31 was the strongest fourth quarter since 2009. With the declining US unemployment rate, consumers usedthe benefits of cheaper fuel and a plunge in gold prices to push 2014 demand for jewellery made from gold to a five-year high. Jewellery sales are benefiting from the drop in gold prices over the last couple of years and increasing confidence in the economy. People are buying what they had defered over the past few years.

   While Thailand is the Southeast Asian gems and jewellery hub, Bangkok is not the reginal hub for jewellery retail shopping. International visitors do not come to Bangkok to buy the full range of jewellery - brand name lines, diamonds, watches. In fact, brand name items are rarely seen in Bangkok. This is because of very high import duties imposed on finished jewellery, diamonds and watches entering Thailand. The only jewels available in Bangkok at reasonable retail prices are Thai-made jewellery.

   To made Bangkok are international full-service jewellery shopping hub, it is necessary to greatly reduce the import duties on jewellery items coming into Thailand. This would encourage Bangkok to open up to the world-famous brand name lines, which could then be retailed at prices comparable to Hong Kong and Singapore. The government's loss of import duty revenue could readily be made up by judicious application of other taxes on the jewellery sector, such as VAT and turnover taxes.

 
 
Cover picture :
This dazzling set of pearl jewellery is designed and created by Loytee Co., Ltd, leading Bangkok manufacturers of the finest quality silver jewellery. The set was selected for showcasing at the Ploi Thai Jewelry Creation 2015 exhibition during the 55th Bangkok Gems & Jewelry Fair.















 
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