More than 450 exhibitors representing master jewellers and leading jewellery chains from across the world are taking part in the MidEast Watch & Jewellery Show that opened in Sharjah today (April 29).

The show, over 20,000 sq metres of exhibition space, was opened by Sheikh Khalid bin Abdullah bin Sultan Al Qassimi, chairman of Sharjah Sea Ports and Customs. The 36th edition of the show will run until May 3 at Expo Centre Sharjah.

According to the World Gold Council, there was a 21 per cent increase in demand for gold jewellery last year, which stood at a historic high of 3,863.5 tonnes. In fact, 2013 recorded the largest volume increase in annual jewellery demand since 1997 and marked a return to pre-crisis levels.

The opening ceremony was attended by Mr. Abdullah bin Mohammed Al Owais, Chairman, Sharjah Chamber of Commerce and Industry; Mr.; government officials, dignitaries and industry representatives.

“After the biggest fall in 30 years last year, when the precious metal lost nearly 30 per cent of its value, gold prices are likely to be less volatile this year, which will be great news to jewellery buffs. Apart from this, positive consumer sentiment that is backed by a growing economy will further spur demand for gold and diamond jewellery,” said Saif Mohammed Al Midfa, CEO, Expo Centre Sharjah.

Initial indications point out that the demand for consumer gold items has been healthy during the first quarter of 2014, and, since price expectations have stabilised, the demand is likely to carry into the second quarter too.

“The affinity for gold jewellery runs deep in our part of the world and when this is combined with an increasingly affluent population, sales are likely to be on the higher side. Further, we have the best regional showcase of finest gold & diamond jewellery from across the world in the form of the MidEast Watch & Jewellery Show,” Midfa added.

“MidEast Watch & Jewellery Show is one of our flagship events that is synonymous with Sharjah and its growth. The show continues to hold the distinction of the only event that is held twice a year, has the highest rate of exhibitor retention and regular VIP customers. It is one rare consumer fair that is popular among both the general public and trade visitors,” said Mohamed Amjed, project manager of the MidEast Watch & Jewellery Show.

National pavilions, which has been one of the mainstays of the show, are featuring a rich repertoire of gold and diamond jewellery, precious & semi-precious stones, pearl sets, gemstones and branded watches. This time, Hong Kong-China, India, Italy, Malaysia, Singapore and Thailand have national pavilions.

Visitors can also look up to the Thailand Pavilion, which is showcasing dazzling gold & diamond jewellery under the brand ‘Ploi Thai’. The Ploi Thai Fashion Show, being held for the third consecutive time, is featuring top models from Thailand presenting ‘Ploi Thai’ creations. It is scheduled to run from 7pm to 8pm daily during the show.

“Ploi Thai is a branding initiative to promote Thailand’s expertise in coloured gems and craft of making the coloured gemstone jewellery. Every jewel bearing the Ploi Thai brand would be symbolic of being manufactured in Thailand and a proud addition to a jewellery lover’s collection,” he added.

Visitors can also take part in the daily raffle draw. On every purchase of Dh500 ($136), visitors have a chance to qualify for the raffle draw. The Hong Kong Pavilion is also giving away prizes to visitors. – TradeArabia News Service