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World Ruby Forum 2017 Emphasizes Thailand’s Potential As World’s Gem and Jewelry Trading Hub

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(Press Release) The Gem and Jewelry Institute of Thailand (Public Organization) or GIT collaborated with the public and private sectors both domestically and internationally to host the World Ruby Forum 2017 to provide insights on world ruby activities in all dimensions and organized the gala dinner night to show ruby jewellery worth over 5 billion baht on November 4, 2017 at Shangri-La Hotel, Bangkok. INSTORE Duangkamol GIT Director WRF Opening

“The World Ruby Forum 2017 is the first meeting to gather professionals in the world ruby industry.

Its key objective is to promote, support, raise awareness and create accurate understanding about value and beauty of ruby, which is recognized as the King of Gems and one of Thailand’s key colored gemstones, to worldwide audiences. The event conforms to the government’s policy, which aims to establish ruby as Thailand’s most important exported gem and promote Thailand as the world’s gem and jewellery trading center by 2021,” Mrs. Apiradi Tantraporn, Minister of Commerce said at the opening ceremony of the World Ruby Forum 2017 on November 4.

“The gem and jewellery industry from upstream to downstream has generated enormous revenue to Thailand annually and created jobs, which benefit the country’s economic growth because this industry is one of the key drivers for Thailand’s trade and economy. It employes more than one million workers including gem selectors, craftsmen, gem cutters and other general workers.”

Currently in Thailand 80 percent of gems and jewellery products are made for exports while only 20 percent is for domestic consumption. In 2016, Thailand ranked as the country with the tenth-highest value of gems and jewellery exports (including gold), worth US$14.247.60 billion in 2016 (500 billion Baht) or 3.49% of the country’s GDP or 6.62% of the country' export revenue. In the first 9 months of 2017 (January to September), export from this industry brought in over US$10.66 billion (364 billion Baht) and ruby export has generated US$ 279.24 billion (956.64 billion Baht), growth 23.30% or 28.21% of the overall colored stone export revenue. In term of quantity, ruby has been exported for 1,847 carats or 37.72% of the total export value of precious stone. The important target markets are Hong Kong, US, Switzerland, India and China respectively. Therefore, Thailand gem and jewellery industry is one of the top-three exports of the country.

“By hosting this important event, the potential of Thailand’s gem and jewellery in the global arena will become even more distinctive,” said the Minister of Commerce.

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“Thailand is widely recognized for our colored gemstones as we have creative skilled craftsmen producing beautiful jewellery which are popular among gem and jewellery lovers,” said Mrs. Duangkamol Jiambutr, Director of GIT. “Today, the world top experts of gem and jewellery industry from upstream to downstream will share insights on different topics including raw material, key ruby mines, marketing, branding and world standard for gem laboratory and certification.”

The topics include Defining a Framework for Corporate Social Responsibility in the Colored Gemstone Sector by Mr. Gaetano Cavalieri, President of World Jewellery Confederation (CIBJO); Thailand’s Colored Stones and The Road to be Brilliant by Mrs. Duangkamol Jiambutr, Director of GIT; Seeing Red: A Passionate Guide to Ruby by Mr. Richard Hughes, Co-Founder of Lotus Gemology.

Moreover, GIT and Thailand’s leading jewelers including Beauty Gems, Veerasak Gems, Premier Gems and Asian Institute of Gemological Sciences (AIGS) are joining hands to show the country’s capability as a leader of the gems and jewellery industry through the fashion show during the gala dinner night featuring the most beautiful rubies in the World’s Most Beautiful Ruby Contest and extravagant ruby jewellery worth over 5 billion baht from leading jewellery companies in Thailand. Worldwide gem and jewellery entrepreneurs and celebrities are invited to witness the beauty of ruby and ruby jewellery from Thai craftsmen.

Honorable guests at the event are invited to attend the charity auction of Judith Leiber handbag from Beauty Gems and a ruby ring from Sant Enterprises. Income after expenses will be donated to SafeguardKids.com.

“As the co-host of this event, Thailand, represented by the Ministry of Commerce hopes this event will sustainably support and promote Thailand as the world’s gem and jewellery trading hub,” Mrs. Jiambutr concluded.

 

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