YANGON, Myanmar, The 56th Myanmar Gems Emporium is due to kick off in the capital city of Nay Pyi Taw on Monday (tomorrow), expecting to attract over 2,600 gems merchants from China, Thailand, Australia and the United States, according to the Ministry of Natural Resources and Environmental Conservation.
The emporium, which is also expected to draw over 900 local gems merchants, will put a total of 274 pearl lots, 500 jewelry lots and 6,974 jade lots on sale, at the 10-day event, which will last until March 20.
Arrangements will also be made to produce and sell finished gemstones and jewellery, besides selling raw gems, said U Ohn Win, minister of natural resources and environmental conservation, when inspecting the display of gems and jade lots to be auctioned at the event.
In the last 55th Emporium held in June 2018, 495 million U.S. dollars’ worth of 5,259 jade lots, three million U.S. dollars worth of 341 pearl lots and 1.6 million U.S. dollars worth of 69 gems lots were sold under open tender system.
At that event, licensed and authorised buyers from both home and abroad, including those from China, Thailand, Canada, Australia and the United States, of whom the majority were from China, bought the items.
Sponsored by the ministry, Myanmar gems emporium has been held annually since 1964.
Source: NAM News Network