This article first appeared in the JNA July/August 2025 issue.

Jewellery & Gem ASEAN Bangkok (JGAB) 2025 shone the spotlight on the region’s champions – coloured gemstones and fine jewellery – while testifying to the industry’s tenacity amid challenging business conditions. ASEAN stands for the Association of Southeast Asian Nations. According to organiser Informa Markets Thailand, JGAB’s third edition attracted 10,663 participants from 84 countries during its four-day run at the Queen Sirikit National Convention Center (QSNCC) in Bangkok from April 23 to 26.

Local attendees accounted for 52 per cent of the total. The top international source markets were China, India, Myanmar, the Philippines, Sri Lanka, Hong Kong, Japan, Singapore, Vietnam and Malaysia. Over 52 per cent of visitors were C-level executives and business owners, while 35 per cent consisted of distributors, jewellery designers and gemmologists. The show featured over 350 exhibitors from 15 countries.

Sanchai Noombunnam, country general manager of Informa Markets Thailand, said, “The enthusiastic participation from global stakeholders reflects ASEAN’s growing prominence as a vibrant and competitive hub in the global jewellery market.”

In the shadow of tariffs

JGAB 2025 took place mere weeks after the imposition and subsequent 90-day suspension of reciprocal tariffs by the US on its trading partners. In the span of a week, US tariffs for trade imbalances went from high double-digits for most Southeast Asian countries to a standard 10 per cent. At show time, gem and jewellery players were still reeling from the policy whiplash, adopting or dealing with wait-and-see stances and examining their options, which ranged from negotiating with clients and diversifying markets to pinning hopes on government talks for more manageable rates.

Tariff-related disruptions and their impact on trade with the US, a market of significant import to the region’s jewellery industry, cast a pall on business activity, leading to a relatively subdued trading environment.

Alternative markets however came into view, displaying their potential and interest on the show floor. Often cited by exhibitors were buyers from Russia and the CIS, who have reemerged on the scene, with many setting up shop in Thailand. Visitors from India and the Middle East were likewise active at JGAB, alongside professional trade buyers from Indonesia, the Philippines and China, among others.

Speakers at the ASEAN Jewellery and Gem Summit 2025 organised by the ASEAN Gems and Jewellery Trade Association (AGJA) held on the sidelines of JGAB also urged greater regional collaboration to sustain Southeast Asia's jewellery industry despite trade tensions.

Gem focus

Coloured gemstones topped most shopping lists. STD Gems Co Ltd, which focuses on unheated sapphires from Sri Lanka, entertained new clients from Asia and China at the show. Director Bill Ma disclosed, “China is an existing market for us, but we managed to meet new customers who were asking for sapphires of 1 to 2 carats.”

STD Gems generally works with wholesalers, collectors and private customers from the US and Europe. In these markets, big stones of 30 carats and up are in demand, with cushion cuts performing particularly well, said Ma.

Fine Green Gems Co Ltd also reported sales to some regular Chinese clients at JGAB. The company deals solely in Zambian emeralds, buying rough from Gemfields and cutting these in India. China and Hong Kong are its main markets, but its business from Russia and the Middle East has been growing steadily.

“Our China business has pretty much halved since last year. We hope to compensate for this with sales to Southeast Asian and Middle Eastern markets, which prefer commercial to medium-quality stones,” said Faisal Adams, director of Fine Green Gems.

High-quality stones, meanwhile, are favoured by Russia, Hong Kong, China and Europe, he added.

Over at calibrated gem supplier Fancy Factory, pink sapphires drew the most attention. Sales Manager Teeratach Inworn noted particular interest in 5mm and 6mm rounds as well as 6mm by 4mm and 5mm by 4mm ovals. “While the US is our top market, we entertained existing customers from India and Japan and even managed to get new clients from Italy and France at JGAB,” said Inworn.

Fresh opportunities

First-time exhibitor Zals Intl Co Ltd touched base with several new clients from Russia, the United Arab Emirates and China, among others.

“The show has been decent for us,” shared company director Zainab Shareef. “Footfall and trading are expectedly slower, but we met a lot of potential customers. Our main objective was to develop business relationships with more buyers, and we achieved that.”

Of Zals’ selection of coloured gemstones, Paraiba tourmaline gained the most attention as did exceptional single stones. “Buyers were after special gems. For instance, those seeking rubies wanted bigger sizes, good colours and exceptional cuts,” she said, adding that aquamarine and purple sapphire moved well too.

Established in 2013, Zals Intl Co Ltd specialises in tsavorite, aquamarine and morganite. The company has its headquarters in Hong Kong and offices in Thailand and India.

Gempedia, for its part, found JGAB an effective platform to connect with the local trade, having just opened in Bangkok the previous year. A subsidiary of India-based MKA’s Rubylite, the company deals in aquamarine, tourmaline and rubellite.

Owner Kush Agarwal noted that sales were limited since local buyers sought to fulfil specific orders. “There were however promising enquiries about our inventory and capabilities, which hopefully can transform into long-term business relationships,” he said. “Our objective was to find new Bangkok-based customers – and we did so. The show was good for us and holds great potential.”

Fine craftsmanship

Thailand’s expertise in illusion setting also did not go unnoticed. KAA Creations Co Ltd’s diamond jewellery collections caught the attention of buyers from Lebanon, China and Thailand, among others.

“We are quite pleased with the exposure and business opportunities at JGAB, which helped expand our network. We received many enquiries, which hopefully will turn into actual orders,” said director Pravin Patel.

While KAA Creations counts the US and the Middle East as its top markets, the tariff situation is prompting it to concentrate on the latter, with Sharjah and Dubai being primary targets.

Since Middle East clients prefer high-quality diamonds, the company uses only VS quality stones in its collections for the region. Patel said, “They truly appreciate the illusion setting, which gives the look of a bigger diamond using smaller stones. Three-line jewellery and longer necklaces are market favourites. Meanwhile, simpler designs and classic styles such as one-line tennis necklaces and tennis bracelets move well in the US.”

KAA Creations is likewise eyeing further inroads in Asia and intends to explore the markets of Singapore and Malaysia this year.

Suparno Jewelry Co Ltd was also satisfied with its JGAB outing this year. The company manufactures diamond jewellery in 14-karat gold, exporting some 40 per cent of its production to the US. It also makes lab-grown diamond jewellery for Russian-owned international online brands that have a following in the US and the Middle East.

General Manager Thanapoom Utoxpach said he connected with at least 10 new clients from a host of markets, including Lithuania, Russia, Germany and the US.

JGAB 2026 takes place from April 22 to 25, 2026 at QSNCC.