The Gem and Jewelry Institute of Thailand has mapped out a fresh direction for 2018, which focuses heavily on international expansion, fostering consumer confidence and developing digital platforms as Thailand moves to become a global gemstone and jewellery trading hub.
The Gem and Jewelry Institute of Thailand (Public Organization) or GIT has outlined new directives beginning next year aimed at boosting Thailand’s position in the international gems and jewellery sector.
Specifically, GIT wants to help expand the sector’s overseas footprint, develop digital competitiveness, and improve research and innovation capabilities.
According to Duangkamol Jiambutr, director of GIT, this strategic plan will significantly contribute to Thailand’s vision of becoming a global gems and jewellery trading hub.
“GIT continuously develops research projects and new services to support the industry as well as the private sector,” noted Duangkamol.
Top-billing these flagship projects in 2018 is drafting a development framework for regional small and medium enterprises (SMEs) to improve manufacturing techniques, product quality and design through education.
GIT also wants to provide more comprehensive training courses through the Gems and Jewelry Training Institute. These courses will cover a wide spectrum of skills such as production and design, marketing and branding, and gemstone and diamond facetting, among others.
The institute is likewise providing the GIT E-Service system, which allows customers to easily access various services online including gemmological reports. GIT is also providing assaying and hallmarking services for precious metals such as gold, silver and platinum to ensure quality standards are met.
Another initiative is “Big Data” where GIT will collect and systematise industry information about manufacturers and retailers in the country as well as product categories and locations. The database will be linked with Google Maps to facilitate seamless connection between domestic and international traders.
A gems and jewellery one-stop service or help desk, meanwhile, will also be set up to provide information and advice to industry players and buyers.
GIT is also collaborating with the Department of International Trade Promotion to further raise the sector’s profile by establishing trust and confidence among international consumers. GIT said it will also push for a GIT Ruby and Sapphire Master Color Standard to further enhance the credibility of its testing services.
The institute also recently hosted the World Ruby Forum on November 4 in Thailand, in conjunction with the CIBJO Congress 2017. This event served as a platform for participants to exchange ideas and discuss the latest trends, challenges and opportunities in the ruby sector. The event was attended by experts, gemmologists, trade associations, investors and other industry stakeholders. Representatives from multilateral organisations such as the United Nations were also present, according to GIT.
GIT continuously develops research projects and new services to support the gemstone and jewellery industry as well as the private sector.