OVER 100 jewellery brands assembled at the Straits Quay Convention Centre for the Penang Signature Gold Fair 2017.
Attracting thousands of visitors from around the world, the fair was aimed at providing opportunities for industry players to establish Malaysia as a vital gold trading hub in exporting gold jewellery across the globe.
Luxurious and trendy jewellery collections were showcased by brands from countries such as Italy, Saudi Arabia, India, Thailand, Turkey, Singapore and Malaysia.
Chief Minister Lim Guan Eng said Penang’s gold and jewellery industry contributed to about RM6.1bil or 85% of the country’s RM7.2bil gold jewellery export last year.
“Malaysia has always maintained a low profile globally as the world is more familiar with the other countries such as Dubai and India when we talk about gold jewellery trade.
“However, Malaysia’s gold suppliers have been exporting about 60 metric tonnes of finished gold products each year,” he said in his speech before the opening ceremony of the fair on Friday.
The three-day fair was organised by Elite Expo Sdn Bhd, in collaboration with the Province Wellesley Gold and Silver Ornament Merchants Association.
Elite Expo Sdn Bhd chief executive officer Johnson Lim said he believed the fair could be a strategic trading platform for many gold traders in Malaysia.
“We also have the International Gold Summit, where seven to eight countries discussed matters on security and taxation, at the same venue on Friday,” he said.
Province Wellesley Gold and Silver Ornament Merchants Association president Chiah Hock Yew said the fair was the best platform for gold traders to look at business and networking opportunities.
A gold jewellery fashion show was also held during the opening ceremony.
Also present were Kedah royal family member Toh Puan Datin Seri Utama Noor Suzanna Abdullah and state police chief Comm Datuk Wira Chuah Ghee Lye.