The 2024 Mid-Year Myanmar Gems Emporium continued its fourth day yesterday morning at the Maniyadana Jade Hall in Nay Pyi Taw, attracting both local and international gemstraders. From the morning session, these traders explored and examined various gemstone sets displayed both inside and outside the designated areas of the hall.
During the morning session, officials opened and reviewed price tenders submitted for gemstone sets numbered 1 to 160. It was announced that 62 lots were sold. The sales were based on reserve prices set in US dollars. International gemstone traders who won the bids could make payments in US dollars, euros, Chinese yuan, Thai baht, or any foreign currency accepted by the Central Bank of Myanmar. Local traders could pay either in foreign currency or Myanmar kyat.
In the afternoon, officials reviewed tenders for jade sets numbered 1 to 850 from Group A and B. The sale results will be announced on the fifth day of the exhibition. Jade lots from these groups are being sold to both local and international gem merchants through an open tender system. International traders are required to pay in accepted foreign currencies, while locals can pay in foreign currencies for Group A and either in foreign currency or in kyat for Group B.
Additionally, jade lots in Group C, priced in kyat, are reserved for domestic traders as part of efforts to promote MSME businesses. Payments for these sets must be made in kyat only. Alongside the main exhibition, jewellery and gemstone shops within the Maniyadana Jade Hall are open, drawing numerous visitors and buyers.
The 2024 Mid-Year Myanmar Gems Emporium, held from 18 to 27 November at the Maniyadana Jade Hall, features a wide array of gemstones and pearls. Of 280 pearl lots on display, 208 have already been sold. Similarly, 62 of 160 gemstone sets have been purchased by local and international gems merchants. From 22 to 27 November, a total of 4,800 jade lots from Groups A, B, and C will continue to be sold through the open tender system.
MNA/KZL
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