Thailand is poised to emerge as one of the world's top ten leading exporters of gems and jewellery products by 2015 from the present 14th, thanks to the implementation of a master plan to strengthen competitiveness.
Exports of Thai gems and jewellery are also expected to grow 18 per cent annually.
Vichai Assarasakorn, president of the Thai Gems and Jewellery Traders Association, said the development of the industry under the master plan by the Thai Chamber of Commerce will not only help strengthen the Thai manufacturing sector, but also set up Thailand as a regional centre for trading.
"Thai gems and jewellery exports should increase considerably following the integration of supply chain and traders. Thailand's share in the world market should double to 4 per cent in 2015, from the current less than two per cent," he said.
Vichai, who is also chairman of the jewellery sector of the Thai Chamber of Commerce, said exports were worth Bt333.79 billion (US$9.76 billion). Exports are targeted to grow by 18 per cent, to Bt390 billion, this year.
To boost exports of the sector after the global economic recovery, Vichai said the industry will focus on promoting its products in new potential markets with high purchasing power.
Exports to traditional markets - the United States, 15 countries of the European Union, Japan, and Hong Kong - account for 80 per cent of total exports. However, exports to new markets should show a greater increase compared to the traditional markets, he said.
Vichai said marketing this year will focus on China, India, the Middle East, Latin America, and Asean.
"The Asean Economic Community will not only extend market opportunities for Thai gems and jewellery, but also facilitate manufacture as raw materials will enjoy zero tariffs," he said.
The master plan drawn up by the Thai Chamber of Commerce focuses on 11 areas:
n The soon-to-be waived value-added tax on precious stones. The project should largely help lower production costs of Thai gems producers as well as increase Thai export competitiveness. It will also reduce VAT on imports of crystal glass for supplying to the gems industry.
n Allocate a budget of Bt30 million from the Creative Economy project to develop the competence of gems and jewellery makers in each province.
n Spend Bt10 million on gems and jewellery roadshows in 14 countries.
n Search for new sources of supply of raw materials.
n The Gems Bank project, which will today approve Bt3 billion to Bt5 billion to support Small and Medium Sized Enterprises of the industry.
n A project to develop Thai producers under the Thailand International Jewellery Award.
n Set up a distribution centre in Beijing with an initial budget of Bt50 million.
n Develop skilled labour.
n Focus more on research and development.
n Promote Thai precious stones under the name "Ploy Thai".
n Convince the United States to extend the generalised system of preference for Thai gems exports.
