61st Myanma Gems Emporium commences

 

The 61st Myanma Gems Emporium will offer 700 pearl lots, 160 gemstone lots and 3,073 jade lots for sale to local and foreign gem merchants.

President of the Republic of the Union of Myanmar U Min Aung Hlaing attended the opening ceremony of the 61st Myanma Gems Emporium at the Maniradana Jade Hall in Nay Pyi Taw yesterday morning.

The President and dignitaries watched a documentary video clip on the production process of jewellery products and the preparations to hold the 61st emporium.
The President and party reviewed jade, gems and pearl lots to be sold at the emporium displayed at Maniradana Jade Hall and gave necessary guidance to officials.
The President viewed the sale of products at private gems and jewellery ornament shops and observed the display of uncut jade lots outside the jade hall.

Also present at the ceremony were Vice-Presidents U Nyo Saw and Nan Ni Ni Aye, Commander-in-Chief of Defence Services General Ye Win Oo, Union ministers, the Nay Pyi Taw Council Chairman, the commander of the Nay Pyi Taw Command, departmental officials, officials from the Myanmar Gems & Jewellery Entrepreneurs Association, local and foreign gem merchants and guests.

To generate foreign exchange earnings for the State and provide economic benefits for citizens, the Myanma Gems Emporium, which sells gems and jewellery, has been held since 1964. At the current emporium, reserve floor prices for pearl lots are set in US dollars. Foreign gem merchants may make payments in US dollars, Chinese yuan, or Thai baht, while local merchants must pay in Myanmar kyats. For gemstone and jade lots, reserve floor prices are set in euros. Foreign gem merchants may pay in US dollars, euros, Chinese yuan, or Thai baht, whereas local merchants must pay in Myanmar kyats. The minimum base price is set at US$1,000 for pearl lots, 500 euros for gemstone lots, US$1,000 for finished jade lots, and US$5,000 for uncut jade lots.

A total of 700 pearl lots, 160 gemstone lots and 3,073 jade lots will be sold to local and foreign gem merchants through the open tender system under the prescribed rules and regulations. Private gems and jewellery ornament showrooms are open at the Maniyadana Jade Hall. The 61st Myanma Gems Emporium will last till 17 October.

MNA/TTA

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