Illustrative image (Source: Internet)

Bangkok (VNA/NNT) – The 59th Bangkok Gems and Jewelery Fair has kicked off with over 700 gem and jewelery businesses from across the world taking part and expectations that the event will result in no less than 17 billion THB in deals.

Minister of Commerce Aphiradee Tantraporn opened the 59th Bangkok Gems and Jewelery Fair by pointing out Thailand is the world’s 10th major producer and exporter of gems and jewelery. The country shipped out 7 billion USD worth of precious stone goods in 2016 and it is believed the figure will rise by 5 percent this year due to government support. The state is seeking to establish Thailand as a center for the jewelery trade and has rolled out a slew of supporting measures.

The annual fair is taking place at Challenger Halls 1-3 at Impact Muang Thong Thani and will run until February 26. Over 730 companies from 18 countries are displaying their goods across 2,000 booths. More than 23,000 people are expected to join in the event and over 17 billion THB is expected to be circulated in trade deals.

The fair is divided into 6 zones: jewelery for the elderly, jewelery for pets, wedding jewelery, jewelery for men, handicrafts and spiritual creations.-VNA/NNT