Bahrain, Thailand plan jewellery venture
Manama, November 23, 2013
Bahrain may soon become a regional exports hub for jewellery. It is planning a strategic partnership with Thailand to manufacture and market jewellery lines for the global market.
Exports, pegged at $1.3 billion over the first three years, will mainly target the GCC market and the US, taking advantage of the free trade agreement with it.
Bahrain Chamber of Commerce and Industry's gold and pearls committee is co-ordinating talks on setting up factories and workshops with a Thai delegation currently in the kingdom for Jewellery Arabia 2013.
Thai Gems and Jewellery Traders' Association vice-president Jarudol Tulyagijja, who is leading the delegation, unveiled plans to set up 10 Bahrain-Thai jewellery ventures - five in each country - as the first step. They have already been approved by the Bahrainis, he said.
The project is part of the second phase of a co-operation protocol signed by the chamber on the sidelines of His Majesty King Hamad's visit to Thailand last April.
Efforts are now being stepped up with Industry and Commerce Minister Dr Hassan Fakhro to allocate land for the project.
Tulyagijja said Thai jewellery exports soared to $13 billion last year.-TradeArabia News Service