THE country’s gold jewellery leaders have expressed interest in transforming Penang into a major gold trading hub after the state locked in the highest gold jewellery exports as of February this year.
Federation of Goldsmiths and Jewellers Association of Malaysia president Datuk Chiah Hock Yew said according to the statistics by the Department of Statistics Malaysia (DOSM), from January to February this year, Malaysia’s gold jewellery exports stood at RM313 million.
It was also learned that 70 to 80 per cent of the total exports came from Penang-based manufacturers and exporters.
“I hope Penang can become a major gold trading hub in the future, allowing our main exporters from countries as far as China, United Arab Emirates (UAE), Singapore, Canada and others, to come here for gold trading business.
“It has been proven through statistics by DOSM that Penang plays a key role in locking in the big number of exports year-in-year-out, and we hope to take this to the next level,” Chiah said during the PW Gold and Silver (PWGS) Trade Fair 2024 media conference at Setia SPICE Convention Centre in Bayan Baru today.
Organised by the Province Wellesley (PW) Gold and Silver Ornament Merchants Association, the second edition of the PWGS Trade Fair is set to take place from May 31 to June 2 at the convention centre.
In line with the Business-Business (B2B) and Business-Consumer (B2C) approach, the fair is expected to welcome approximately 100 exhibitors and an estimated 10,000 visitors from across the nation.
Penang Convention and Exhibition Bureau (PCEB) chief executive officer Ashwin Gunasekeran said the fair marks a significant milestone in PWGS’s journey, aiming to become the primary driving force in shaping the gold jewellery culture.
“With a mission to position Malaysia as the premier hub of jewellery worldwide, the event seeks to enhance the competitive edge of the local jewellery industry.
“This inaugural fair will serve as a platform for the international promotion and publicity of local designers, elevating their presence on the global stage,” Ashwin said during his speech.
Meanwhile, state Tourism and Creative Economy Committee chairman Wong Hon Wai said beyond showcasing Malaysia’s vitality and strength in the gold and jewellery industry, the fair promises comprehensive exchanges among the key players through its B2B networking sessions.
“These interactions, facilitated by a robust business matchmaking framework, hold the potential to generate numerous lucrative opportunities, contributing to economic growth,” he said.
Story by Kevin Vimal
Pix by Alissala Thian