Where the wives of the world’s bankers can shop for jewelry… Next Stop: Bangkok refers to a glossy, well-edited supplement that has been seen by the world’s bankers and financiers at the annual World Bank/International Monetary Fund meeting in Washington, D.C. in late September. Published by Thailand’s The Nation newspaper, Next Stop: Bangkok previews next year’s meeting on October 12 – 17, in which Thailand will be host to some 12,000 delegates and their families from 151 countries. Thailand’s central bank and the Finance Ministry would really like a world-class jewelry fair that can be held on the premise at the newly-built National Conference Center. The Thai Gem and Jewelry Traders Association is seriously considering it.
The Thai government has agreed to liberalize gold imports. Finance Minister Virabongsa Ramangkura attributed the October 15th decision to the country’s earlier decision to ease foreign exchange controls. Deregulation of Thailand’s monetary and trade policies are in line with Article 8 of the IMF to promote foreign investment in manufacturing, trade and service-related sectors. Virabongsa said the liberalization could start as early as February. Three private companies have rights to import gold, two whose concessions expired last July and August. The license of the third, Pattanachart Co., expires on February 1. JSH, the official bulletin of the European Watch, Clock and Jewelry Fair (Basel Fair), wants UNESCO to urge the Thai government to lower its heavy import duties on trade and professional books. Hit by a 45 percent import tax, one Bangkok jeweler who ordered some 28 books and catalogs from JSH canceled the shipment. “We hope UNESCO will contact the Thai government soon.” Said Jean Siegenthaler of JSH, the Swiss Watch & Jewelry Journal. “We offer one of the best distributed magazines in the world, and they are for learning the profession. They are very important to Thailand.” he said.
Swiss Industries Fair, organizer of the Basel Fair, has told Thai Jewelers they will not be admitted to next year’s fair. In a letter seen by JewelSiam, the Fair’s director Michel Mamie cited the following reasons: copyright and patent infringements, unsatisfactory cuts in import duties on watches and jewelry, non-recognition of carnet, and a “restaurant presentation” organized by a group of Thai jewelers during the Basel 1990 fair which was strongly disapproved. The letter reads in part: “The restaurant presentation.. was considered as an unfair way to take advantage of the Basel Fair and thus to overcome a decision of the Basel Fair not to admit Thai exhibitors. Should this presentation be renewed… it would seriously reduce the chances of a rapid admission of Thai exhibitors in the Basel Fair.
“In spite of recent successful but isolated actions in Thailand to combat infringements of industrial property rights, it is still widely considered that not enough attention and support are granted by the authorities in Thailand in order to secure an efficient implementation of the patent law…
The Soviet Union has recently formed joint ventures with Singapore that range from personal computers to diamonds, it was reported. Economic cooperation in broad areas was the topic at the first meeting of the intergovernmental Singapore-Soviet Joint Commission held in Moscow in mid-September. For diamond trading, the two parties formed Rusalmaz Asia. The report however gave no further details on Rusalmaz Asia.
New diamond substitute: corundum top with strontium titanate bottom doublet closely resembles the real thing! The top surface fives the stone its durability and protection against wear. Strontium titanate gives the stone its scintillation or rainbow colors. Also contact World Jewels Trade Center at (662) 233-8388-9.
The ICA Gazette has announced that members now exceed 500! The United States lead with 68; India 64; Japan 59: Sri Lanka 49: Germany 47: and Thailand 42. Credits go to ICA President E. Julius Petsch and Vice President Rashmikant Durlabhzi of India. During Petsch’s visit to India, membership grew from 31 to 64 during the one-hour reception-meeting.
From the World Federation of Diamond Bourses: a preliminary plan to turn Israel’s Diamond Exchange into a free trade zone for rough diamonds has met with approval by Moshe Nissim, Minister of Industry and Trade. The plan was pushed by the exchange’s president Moshe Schnitzer, who says that the elimination of bureaucratic obstacles and high taxes will make Israel a more attractive market for diamond suppliers who today mainly operate in Europe.
New Bangkok arrivals: New cutting styles in sky blue topaz. Available in sizes from 3 to 10 carats each. Shapes include hearts and pear-shaped brio-lettes. Contact World Jewels Trade Center at (662) 2338388-9 or by fax at (662) 2367803.
On September 26, a friendly charity soccer match was held with some members of the Thai Gem and Jewelry Traders Association led by Pornsit Sriorathaikul on one team. The other team fielded nurses and several movie actresses. Who kept score? Guests at the reception held after the match included former Miss Universe Mrs. Apasara Chirathivat and television actresses Apiradee Pawaputanond and Pa-nun Na Patalung.
The Gemological Institute of America (GIA) and Mr. Dong Gug Kim have agreed to offer resident Diamond and Colored Stone programs beginning in October. The new establishment is known as the Gemological Institute of Korea. It also offers a home study gemology course in Korean. For additional information, contact: Gemological Institute of Korea, Kang Nam-ku, Sinsa-Dong 638-4 Kyung Jin Building 202, Seoul, South Korea. Tel: (011822) 540-7637.
Cut diamond exports from Israel to Japan, Thailand and Singapore have increased in dollar value compared to last year’s figures. Highest gains were in Singapore, followed by Japan and Thailand. Together, the three Asian countries increased their purchase on the average by approximately 39 percent for the period from May 1989 to May 1990.
The Asian Institute of Gemological Sciences has appointed Santi Mongkutnimitr as their new executive director, replacing Henry Ho. Santi is adding jewelry design to the curriculum as well as lectures for tourists on “How To Buy Gems and Jewelry.” Interested persons can contact him for additional information at Fax no. (662) 2367803 or telephone no. (662) 5132112.
Experts warn against using the diamond grit-impregnated tweezers even on diamonds. Volume 26 Summer 1990 issue of Gems & Gemology, published by the Gemological Association of America, carried a good article on the dangers of using such tweezers. Writers John Koivula, Edward Boehm and Robert Kammerting say the tweezer’s use could be damaging to virtually any type of gemstone with the possible exception of diamond. It pays to read.
As of September 20, 1990, Brinks (Japan) has started operations to provide clients with a full spectrum of services including delivery and clearance of precious parcels, bonded custom clearance and transportation, safekeeping in bonded warehouse, delivery of documents and collection of parcels from specific places Interested persons can contact: Brinks (Japan) Limited, 5/F, Aurum Annex Building, 2-1-1 Higashi-Heno, Taito-ku, Tokyo 110 Japan. Tel: 03-847-2025 or fax 03-847-2033.
Due to the current slowdown in demand, the Israel Diamond Manufacuturers Association has recommended that factories cut back production to a five-day work week and cease production by 4 p.m. each day. IDMA President Uri Schwartz, however, feels that this is not the first time the industry has faced a slump, and as long as manufacturers adjust their production to meet the soft demand, the situation should correct itself shortly.