The Commerce Ministry's 49th Bangkok Gems and Jewellery Fair will run from Wednesday to Sunday at Impact Muang Thong Thani with over 25,000 buyers pledging to participate.
The Thai Gem and Jewelry Traders Association expects to see industry exports worth 400 billion baht this year, up by 5-8% from last year. Last year exports from Thailand totalled 370 billion baht.
Somchai Phornchindarak, the association's president, said China, India, Asean and the Middle East would account for 40% of exports, up from 30%, while the US and EU would contribute below 20% each.
China cut its value-added tax to 4% from 17%, helping the industry proliferate there. However, the association will continue to focus on the US and the EU as they are still major markets with high purchasing power.
Dasha Platonova, Editor in Chief of the Asian Bureau, Rough&Polished
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