Lao jewellery entrepreneurs ready for AEC competition
Lao jewellery entrepreneurs ready for AEC competition
Lao gold and other jewellery entrepreneurs are ready to complete with Asean countries when the country integrates with the Asean Economic Community (AEC) at the end of the year.
In response to customer demand and requirements local gold and jewellery traders have developed and improved their business standards, Lao Jewellery Association President Mr Phouvong Phamisith said at the launch of gold and jewellery shops in Vientiane Centre on the weekend.
“We've observed that each jewellery entrepreneur has recognised the need to find a design niche for their products and is providing better service compared to previous years,” he said.
He noted that 99 percent of Lao people were interested in purchasing gold products as they still respected Lao traditional beauty and identity.
“We often see a lot of Lao people buying Lao gold jewellery because of the regular improvements in design, which reflect Lao tradition and culture. That is the reason we have to focus on improving to attract even more local customers,” he explained.
Despite the AEC being a major challenge for Laos it was a factor pushing Lao entrepreneurs to raise the bar up to regional and international level, Mr Phouvong said.
“We would also like to boost cooperation and help each other to ensure the association's operations are sustainable,” he added.
The association has more than 600 members nationwide and almost all of the products are locally designed by Lao jewellery makers.
A variety of gold jewellery designs are now of interest to customers and attract buyers who were once interested in diamond accessories only.
To ensure that Laos is not just an existing market for foreign products, the association has to upgrade labour skills in product development by adding more Lao tradition and culture into products.
The association has regularly organised seminars and workshops to enhance and update design and production skills for goldsmiths and silversmiths.
