THE first day of the 60th Myanmar Gems Emporium was held at the Maniyadana Jade Hall in Nay Pyi Taw yesterday.
A total of 5,085 jade lots, 13 raw gem lots and 147 lots of jewellery, 489 pearl lots, will be sold under the open tender system. The payment can be made with US dollars, euros, yuan, baht and other currencies allowed by the Central Bank of Myanmar.
The pearl lots will be sold on 18-19 November, whereas all the gem lots will be sold on 20 November, and the floor prices are set in US dollars. The foreign merchants can make payment with foreign currencies, and the local merchants can make payment with foreign currencies or Myanmar kyats.
Jade lots are divided into three groups depending on the quality, market status and prices, such as Group A, B and C, with 5,085 jade lots which can be purchased from 21 to 26 November, and the local merchants can purchase all three groups.
The groups A and B will be priced in US dollars, while Group C will be priced in Myanmar kyats. The foreign merchants have to make payment only with US dollars, and the local merchants with foreign currency for Group A, foreign currency or Myanmar kyats for Group B and only with Myanmar kyats for Group C.
The event was crowded with local and foreign gem merchants. — Aung Ye Thwin/ KTZH
