BDB Signs Agreements with Thai G&J Trade Bodies for Participation in Bharat Diamond Week
The Bharat Diamond Bourse (BDB) announced the signing of Memorandums of Understanding (MoUs) with Thailand's leading gems and jewellery associations for participation in the Bharat Diamond Week (BDW) which will take place at the bourse complex in Mumbai from October 14 to 16, 2019.
BDB President Anoop Mehta and Vice-President Mehul Shah signed the agreement with Porntiva Nakasai, President of the Thai Gem & Jewelry Traders Association; and Somchai Phornchindarak, President of the Gems, Jewelry & Precious Metal Confederation of Thailand (GJPCT).
The signing ceremony with the Thai associations came on heels of a highly successful visit to the Shanghai Diamond Exchange (SDE) by Mehta and Shah during which SDE member companies and the exchange's leadership heard about the benefits of participating in the Bharat Diamond Week.
"The agreements signed with the professional organisations from Thailand are the latest step in ensuring we have an excellent number of visitors to the Bharat Diamond Week," said Mehta. "I am delighted that our friends and colleagues from Thailand, who we know so well, will be taking part in the BDW."
Shah, who is responsible for the BDW and who organised the two successful polished diamond events held last year, said: "It is very important that we work with organisations from across the diamond and jewellery world. Our aim is to raise visitor numbers at every show and to learn from the previous event how to be even more successful for the benefit of our small and medium-sized company members. Visitors will be able to source literally every type of diamond both at the Diamond Week and from our other 3,000 Bharat Diamond Bourse member companies.”
He added: "Close to 90% of all the world's polished diamonds are manufactured in India, so the variety of goods on offer is vast. In addition, the show falls just before the Diwali festival and shutdown, so many manufacturers will be offering excellent deals on their polished goods.”
Shah concluded by saying: "Furthermore, due to the uncertainty of the situation in Hong Kong due to civil unrest, and with the September Gem and Jewellery Show just weeks away, we believe it is likely that many companies that need to source diamonds will decide to come here instead. The Bharat Diamond Week will act as a perfect venue for companies to source their diamond demands.”
The BDB said that the number of companies and individuals who have registered for the show is already far ahead of those for the two previous shows. And, as with the two shows held last year, the BDB will provide selected buyers with complimentary hotel accommodation. Around 150 complimentary hotel rooms have been set aside for foreign buyers. Priority will be given to visitors who are members of bourses affiliated to the World Federation of Diamond Bourses (WFDB), but all members of the diamond trade across the world are welcome to participate.
Each Indian company that wins the right to exhibit their goods at the Bharat Diamond Week is entitled to one booth. Since trading in synthetic or lab-grown diamonds is banned in the BDB, there will not be any such diamonds traded at the BDW.
Pic Cap: Anoop Mehta (ext rt) signing the agreement with Gems, Jewelry & Precious Metal Confederation of Thailand (GJPCT) President Somchai Phornchindarak (ext left).