Jarad aims growth of 20%

07 Sep '06

2 min read

Jewelry Advance Research and Development (Jarad) was created by the Industry Ministry to improve the sector's export competitiveness.

This organization is based at Srinakharinwirot University in Bangkok.

Srinakharinwirot University had decided to draw up Jarad II following the success of Jarad I, which was launched last year.

Government had provided a budget of Bt89 million to support the programme.

Jarad will soon launch its second development plan for the gems industry in a bid to boost average export growth by 15 to 20 per cent per year.

Organization aims to upgrade Thai products and has a target of exports worth Bt200 billion by 2009.

Thailand exported Bt100 million worth of gems and jewelry last year.

Thailand cannot compete with China and India in the mass production market due to their cheaper labor costs.

Kingdom can instead focus on skilled-labor manufacturing to capture more of the premium market.

The plan calls for an intensive training programme for local entrepreneurs.

Thailand's major export markets for jewelry include the US, the EU and the Middle East that has a strong potential with people having high purchasing power.

Thailand faces tough export competition from Turkey and Hong Kong having skilled jewelry makers.

The UK and Germany are also major competitors in the US.

Thailand imports almost 100 percent of the raw materials
needed to make jewelry.

However, it has large supplies of black spinel, a black gemstone, which could be promoted for export and Kanchanaburi is a major source for this stone.

More Fashion News - Thailand...