MARKET INTELLIGENCE 市场情报 JNA July/August 2025 | 53 | Olivia Quiniquini 程爱莉 | 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-andsee 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 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 JGAB 2025 闪耀曼谷 Gems and jewellery shine at Jewellery & Gem ASEAN Bangkok (JGAB) 2025 highlighted Southeast Asia’s core competencies while showcasing the trade’s resilience amid adversity. 2025年曼谷东盟 珠宝首饰展览会 (JGAB) 凸显了东南亚主要的竞争力和面對逆境中的韧性。
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