The Gem and Jewellery Institute of Thailand (GIT) has signed a memorandum of understanding with two major Shanghai entities to help Thai gem and jewelry businesses expand in China.
The agreement, signed with Shanghai Jing’an Real Estate Group Import and Export Co. and China Gems & Jade Exchange, focus on developing industry standards, facilitating market access, strengthening trade links, and enhancing the competitiveness of Thai gemstone and jewelry businesses, Thailand’s The Nation newspaper reported.
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Gemstones seen displayed for selling during the 68th Bangkok Gems and Jewelry Fair at Queen Sirikit National Convention Center in Bangkok, Thailand. Photo by Sipa USA via Reuters |
Under the partnership, GIT will provide technical expertise, product standardization and quality certification services, as well as help connect Thai businesses with potential partners. The Chinese partners will offer guidance on import regulations, customs procedures, bonded warehouse services, logistics, product exhibitions and business opportunities in the Chinese market.
GIT said China is one of the key markets for Thailand’s gemstone and jewelry industry. Strengthened cooperation with Chinese partners is expected to help Thai businesses access the market more effectively while promoting bilateral cooperation in the sector.
The initiative is part of the SMART JEWELER by GIT program, which aims to enhance the competitiveness of businesses in the industry through brand development, design innovation, consumer trend analysis, and the establishment of international business networks.