Thai Gem and Jewelry Industry Shines in China: New Deal to Skyrocket Exports
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The Gem and Jewellery Institute of Thailand (GIT) has formalized a strategic partnership with two prominent Shanghai-based firms with the aim of bolstering Thai gem and jewellery enterprises’ market penetration in China. The collaborations have been established with the Shanghai Jing’an Real Estate Group Import and Export Co. and the China Gems & Jade Exchange. Their collective goal is to establish industry standards, streamline market access, fortify trade connections, and heighten the competitiveness of Thai gemstone and jewellery enterprises.
Looking into the Collaboration
As part of this alliance, GIT will contribute its technical proficiency, establish product standardization, and offer quality assurance services. It will also aid in bridging the gap between Thai businesses and prospective associates. On the other hand, the Chinese collaborators will provide critical insights into import regulations, guide through customs procedures, offer bonded warehouse services, handle logistics, arrange product exhibitions, and create business opportunities within the Chinese market.
The importance of China as a primary market for Thailand’s gemstone and jewellery industry has been recognized by GIT. It anticipates that this reinforced collaboration with Chinese partners will allow Thai businesses to penetrate the market more efficiently while fostering bilateral cooperation in the sector.
Aligning with SMART JEWELER Program
This move is in line with the objectives of the SMART JEWELER scheme by GIT. The program is designed to enhance the competitiveness of players in the industry. This is achieved through brand development, fostering design innovation, analyzing consumer trends, and creating international business networks.
Questions & Answers
What is the primary objective of the collaboration between GIT and the two Shanghai firms?
The aim is to establish industry standards, streamline market access, fortify trade connections, and heighten the competitiveness of Thai gemstone and jewellery enterprises in the Chinese market.
How will GIT contribute to this collaboration?
GIT will offer its technical expertise, establish product standardization, and provide quality assurance services, along with connecting Thai businesses with potential partners.
What role will the Chinese partners play in this collaboration?
The Chinese partners will offer insights into import regulations, guide through customs procedures, provide bonded warehouse services, manage logistics, and arrange product exhibitions, creating business opportunities within the Chinese market.