Mr. Suttipong Damrongsakul, President of ASEAN Gems and Jewellery Trade Association (AGJA), revealed that the Association has been established through cooperation between Gems and Jewelry Trade Associations in the ASEAN region, totaling 10 countries, namely, Vietnam, Cambodia, Laos, Malaysia, Philippines, Myanmar, Singapore, Indonesia, Brunei, and Thailand. Moreover, the AGJA also places an emphasis on building a network of partners outside the ASEAN region, including China, Hong Kong, Taiwan, Japan, South Korea, Turkey, India, Australia, and New Zealand. The Association serves as a central international organization to connect, share, and exchange trade information, as well as coordinating cooperation in the gems and jewelry industry group in order to promote strong and sustainable growth of the industry.
Currently, the AGJA has more than 100 members, consisting of gems and jewelry operators both locally and internationally. Members will gain benefits from joining the AGJA International Club: AIC, being able to access information regarding trade, markets, investments, tax systems, and raw material sources from member countries, and being eligible to participate in gems and jewelry exhibitions both within and outside the ASEAN region jointly organized by the AGJA. In addition, there are many other benefits that help support and enable members to increase trade and investment opportunities, extend their businesses, and expand markets to various countries through a strong network of partners.
In 2024, the AGJA targets to increase the number of members by 300, with the aim to build a network, seek new trading opportunities beneficial to members, as well as driving growth of the industry. Recently, the AGJA signed the MOU to appoint China Gems & Jade Exchange: CGE as the representative of the AGJA, serving to recruit membership in China. It is expected that there will be over 200 members from China in 2024, which will be beneficial to members as a whole in terms of accessibility to and exchange of the information on innovations, production technology, as well as obtaining trade and investment benefits.
The AGJA also signed the MOU with China Gems & Jade Exchange: CGE to serve as a partner taking members to China International Import Expo 2024 (CIIE) to be held on November 5-10, 2024 in Shanghai, China. CIIE is an international trade fair providing the opportunities to make business negotiations and promote imports in accordance with China's Economic Open-Door Policy. It is a platform for economic and trade cooperation between China and other countries worldwide.
China is the largest trading partner of ASEAN, with a bilateral trade value of 669 billion US dollars in 2021, an increase of 29 percent from the previous year, according to the World Economic Forum. China has much more demand for gemstones, ranging from rubies, sapphires, to emeralds, as gifts and investments. In addition to the attractiveness of the market, China also has advanced manufacturing technology which will be beneficial to AGJA members following the signing of MOU.
In addition, the AGJA also cooperates with the Gem and Jewelry Institute of Thailand (Public Organization): GIT and the Asian Institute of Gemological Sciences: AIGS to provide special privileges to the Association's members in relation to gems and jewelry quality inspection, attendance of Gemologist courses and academic seminars on gems and jewelry for purpose of enhancing the potential of gems and jewelry manufacturers and entrepreneurs.
Check out news from the ASEAN Gems and Jewellery Trade Association: AGJA, and apply for membership at https://www.agja.biz/
Source: Asialife Media Thailand
