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Published on March 25, 2008

The achievement will also assure that Thailand will be the world centre of gem and jewellery trading, aided by a highly skilled diamond-cutting technique known as the "Bangkok Cut".

Previously, exports of gems and jewellery were expected to increase to Bt220 billion, from Bt185 billion last year, hampered by a lack of raw materials.

The successful negotiations were conducted between Commerce Minister Mingkwan Sangsuwan and Namibia Ambassador to Thailand Neville M Gertze in Bangkok on Monday.

"From now on, Thailand will be able to directly import raw materials from Namibia," said Mingkwan. "Thai investors will also have a chance to receive diamond mining concessions in the country as both nations have agreed to form a strategic business partnership."

Thailand's gems and jewellery exports have faced difficulties from a lack of raw materials. Namibia is one of the world's largest sources of raw diamonds and precious stones, but De Beers, the world's leading diamond-cutting firm, owns most of the diamond mining concessions there. Thailand imports about Bt1 billion worth of diamonds each year.

Mingkwan said the government would support the Thai private sector to import raw materials from Namibia in a form of "barter trading" in order to help Thai farmers. He said Namibia's government had high demand for agricultural goods. The new agreement should not only support the Thai gem industry, but also the agricultural sector.

To ensure full support to the Thai private sector, Mingkwan will soon lead a group of private sector representatives and government officials from the Foreign and Commerce ministries to Namibia to further negotiate for import and concession contracts.

Mingkwan will also seek other sources of raw materials to support the industry. The target countries are Botswana, Liberia, Ivory Coast, Angola, Congo and Australia.

Ambassador Gertze said Namibia was looking forward to Thai investors increasing trade and investment. So far, there are more than 100 diamond concession licences in Namibia.

Petchanet Pratruangkrai

The Nation