【Thailand Trade Activity】The 56th Bangkok Gems and Jewelry Fair 2015

The 56th Bangkok Gems and Jewelry Fair will showcase over 950 exhibitors and 2,600 booths from 30 countries. The fair exhibits comprehensive jewelry-related products, namely gold, silver, platinum, diamond, gemstones, equipment, tool and accessories, publications and services for industry. Bangkok Gems & Jewelry Fair will be a gateway to the ASEAN Economic Community (AEC) that is officially effective at the end of 2015. In the recent years, the Ministry of Commerce collaborates with the private sectors to help improve the industry, by endorsing supportive schemes to encourage the trade ambiance such as the Zero VAT and the Duty Free tax privilege. The scheme, as we have seen, have boosted overall business transaction and attract more customers to the fair with the aim of “Thailand will be the gateway to the ASEAN Economic Community”. As the Thai government announced the lift of 20% tax on imported gems and jewelry products to be sold at the 56th Bangkok Gems and Jewelry Fair (BGJF 56) this coming September, foreign exhibitors will be allowed to bring in and sell gems and jewelry from other countries duty-free, while local exhibitors can reduce their selling prices after cutting down on imported parts and products’ costs. Local and foreign buyers can thus take advantage of 20% savings, giving them additional purchasing power at the Fair. Another tax-free initiative the BGJF is offering is the Zero VAT Pavilion, where buyers are exempted from paying the 7% value-added tax imposed on rough gems and raw materials imported into Thailand for manufacturing.