In successive eras, the relevant governments have been organizing the Myanmar Gems Emporium as well as the Mid-year Myanmar Gems Emporium on a yearly basis for selling lots of jade, gems and pearl produced under and aboveground and water natural resources to earn incomes not only for the State but also for the private gem merchants.
Since 1964, these emporiums have been staged to attract local and foreign gem merchants. State-run Myanma Gems Enterprise and Myanmar Pearl Enterprise produce quality jade and gem lots as well as pearl lots to display at the emporiums.
This year’s emporium plans to sell 295 lots of pearls, 120 lots of gems and 2,150 lots of jade to local and foreign gem merchants through open tender under the rules and regulations.
As dates will be set for the sale of jade, gems and pearl lots, local and foreign gem merchants will be allowed to check relevant lots of jewellery as they chose.
Significantly, the floor prices of pearl lots are set in US dollars. Foreign gem merchants are allowed payments in US dollars, euros, yuan and baht currencies in buying lots of pearls whereas local gem merchants can spend Kyat equal to the market price in the purchase of pearl lots.
So also, the floor prices of gems and jade lots are set at Euro. Foreign merchants are allowed to spend US dollars, euros, yuan and baht on buying gem and jade lots and local merchants can use kyat equal to euro currency in the emporium. Some jade and gem lots are set in foreign currency. So, local and foreign gem merchants need to spend US dollars, euros, yuan and baht currencies for aforesaid jade and gem lots. Myanmar merchants need to spend foreign currencies or kyat on the purchase of lots of jade set at foreign currencies or kyat.
This year’s gems emporium which lasts for seven days from 17 to 23 March will be a source for the State and the local gem merchants to earn foreign exchange which can be spent on operating businesses of the private sector as well as on development undertakings of the nation. If so, only when both the government and private sectors boom in jewellery trading will it help develop the State economy.
Every country has to earn income from various sources. So, they have to seek ways and means to seek sources of income and have to try hard to improve their products for earning greater incomes.
