Thai gem, jewellery business sector not affected by political tension

BANGKOK, Feb 26 (TNA) – Thailand’s Ministry of Commerce believes the gem
and jewellery business in Thailand will not be greatly affected by the ongoing political tensions and is confident that violence will not occur regardless of whatever verdict is delivered regarding ousted premier Thaksin Shinawatra’s assets seizure case Friday.

Presiding over the 45th bi-annual Bangkok Gems and Jewellery Fair, scheduled Friday until March 2 at Muang Thong Thani’s IMPACT Challenger
trade fair venue, Commerce Minister Porntiva Nakasai said fairs have often
been held when the country has faced significant political tensions, but
the gems and jewellery sector will be little affected, for all business
contacts and agreements were already made prior to the fair.

Meanwhile, the Thai Gem and Jewellery Traders Association is eyeing 18 per
cent annual growth in exporting gems, jewellery and gold this year with a
value around Bt390 billion.

Association chairman Vichai Assarasakorn said the gem and jewellery sector
is unworried about possible political turbulence as long as the airports stay open, and while signals from the global recovery sounds promising, particularly in the United States, which helped Thai exports go well as planned.

He said that none of the companies cancelled their participation at Muang
Thong Thani, but Bangkok Gem and Jewellery Fair chief executive Somchai
Pornchindarak admitted that many foreign businessmen asked about the latest developments in Thai politics. He said they understood quite well the circumstances when it was explained.

The Friday judgment day concerns the verdict by the Supreme Court for Holders of Political Positions whether or not to confiscate the Bt76 billion frozen assets of convicted prime minister Thaksin Shinawatra who is accused of accumulating the fortune through power abuse while he was prime minister.

The government has tightened security nationwide, as the ruling may cause
reactions by Mr Thaksin’s supporters. (TNA)