The new policy gave both operators and buyers greater purchasing power because the selling prices were reduced
(PRWEB) October 31, 2013
More than 30,000 visitors from 125 countries flocked to the recent Bangkok Gem and Jewelry Fair (BGJF) last September, due in part to the duty-free policy undertaken by organizers that waives 20% of import duties on all gems and jewels sold by certified exhibitors at the fair.
Somchai Phornchindarak, President of the Gems Jewelry and Precious Metal Confederation of Thailand (GJPCT) and the Thai Gem and Jewelry Traders Association (TGJTA), said the success of the 52nd BGJF was way beyond their expectations. “Above favorable feedback, we see participants’ appreciation over the duty-free policy,” said Mr. Somchai, who described the achievement as “Fabulous!”.
Aside from allowing foreign exhibitors to bring in and sell gems and jewelry from other countries free of tariff, the new policy gave both operators and buyers greater purchasing power because the selling prices were reduced.
Rugiyya Aliyeva, who came with a group of 15 wholesalers and retailers from Azerbaijan, said they were very impressed with the quality and the offers they got from BGJF’s exhibitors. “TGJTA gave us warm support during our trip to Thailand as well as information of Thai suppliers beforehand. We’ll bring more companies to the next Bangkok show on February,” she said.
Suttipong Damrongsakul, BGJF Chief Executive Officer, said the 52nd fair was more successful than the previous fairs despite the fact that their main traditional markets in the USA and Europe suffered from the current economic downturn. He said it was largely due to the duty-free policy. He added, however, that the Thai government’s approval of the duty-free policy came just shortly prior to the fair, so it did not create a full impact on the fair because of the limited time they had for public awareness. “Anyway, since we are planning for a long-term effect, we are certain that the impact will come clearly on the 53rd BGJF,” Mr. Suttipong said.
Another advantage that visitors enjoyed at the 52nd BGJF is the Business Matching Service, which allows buyers to pre-select the suppliers they are interested in, inform them of their requirements, and finally meet them in a private and comfortable room during the fair.
“The Business Matching System is user-friendly. The staff here are very efficient and they give service with a smile,” said Francisco Manrique, a buyer from the USA. “Thailand is our most preferred country, we like doing business here. Businessmen here are more willing to do business with you, with better quality and finer products. We made one big order through the Business Matching Service,” Manrique added.
Meanwhile, customers who were looking for bargains were happy to find them at the Zero VAT Pavilion, which exempts buyers from paying the 7% value-added tax on rough gems and raw materials. Others enjoyed the Factory Outlet, which offered products at very competitive, “cash-and-carry” prices.
Avail of these many features at the next BGJF, scheduled on February 25th to March 1st, 2014 at the Impact Challenger Hall. To register early, visit http://www.bangkokgemsfair.org/bgjf53/visitor_pre_regis_form.php.