The 54th Bangkok Gems & Jewelry Fair (BGJF54) will be held from 9 to 13 September 2014 at the Impact Exhibition Center, Muang Thong Thani. Supported by the Thai government, BGJF54’s organizer Thai Gem and Jewelry Traders Association (TGJTA) has launched a number of initiatives to reinforce the country’s position as a world’s gems and jewellery hub.
Tax-cut incentives include the 20-percent import duty waive for gemstones and jewellery sold at the fair. Foreign exhibitors are allowed to bring in and sell gemstones and jewellery from other countries duty-free, while local exhibitors can reduce their selling prices after cutting down on imported parts and products’ costs. Thus, both local and foreign buyers at the fair can take advantage of 20-percent savings, giving them additional purchasing power at the fair, a TGJTA statement explained.
“The government has been with us every step of the way, helping to promote exports as well as developing overseas markets via trade fairs, road shows and exceptional exhibitions. All these changes predict a gleaming future for all,” said Somchai Phornchindarak, TGJTA president and chairman of the Gems, Jewelry and Precious Metal Confederation of Thailand.
Suttipong Damrongsakul, CEO of the BGJF organizing committee said the move would significantly propel Thailand to become the golden gateway to the gems and jewellery industry of the Association of Southeast Asian Nations (ASEAN), a region burgeoning with a 600 million population.
At the Zero VAT Pavilion, another tax-free initiative offered by BGJF, buyers are exempted from paying the 7-percent VAT imposed on rough gems and raw materials imported into Thailand for manufacturing.
Free hotel stay for first-time visitors who have signed up with the business matching services, Design Pavilion, Ploi Thai Jewelry Creation, Thailand World of Gems and Jewelry to AEC, etc, are some of the highlights of BGJF54.
BGJF54 will be housing over 1,500 exhibitors and is expected to draw tens of thousands of buyers from all around the world. The official opening ceremony is scheduled for 9AM on 9 September, with the minister of commerce presiding.
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