Dec 7, 2012

Myanmar to hold utility jade, gems, pearl sales

Myanmar will hold utility jade, gems and pearl sales on Sunday in Nay Pyi Taw, according to the central committee for organizing the event Friday.

The purpose of organizing the sales is to fulfill the raw material requirements of entrepreneurs who are manufacturing finished gems and contributing to development of gems and jewellery sector through the sales of utility jade in local currency.

In July 2011, Myanmar's special gems emporium was held in Nay Pyi Taw, fetching 1.5 billion U.S. dollars.

Myanmar started to hold gem shows annually since 1964. Since introducing the mid-year one in 1992 and the special one in 2004, the gem emporium has now become a thrice event annually.

The latest official figures show that in 2010-11, Myanmar yielded 46,810 tons of jade and 12.962 million carats of gems which include ruby, sapphire, spinel and peridot, as well as 275, 688 mommis (1,033 kilograms) of pearl.

Source: Xinhua