58th Myanmar Gems Emporium: PM attends opening ceremony in Nay Pyi Taw

The 58th Myanmar Gems Emporium 2023 was opened at Mani Yadana Jade Hall in Nay Pyi Taw on Friday with an attendance of Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing.

First, the Prime Minister and attendees enjoyed a video record on extraction of Myanmar pearls and sale, extraction of gems and jewelries and preparation for holding the 58thMyanma Gems Emporium.

Afterwards, the Prime Minister and party viewed around the display of jade, gems and pearl lots at the Mani Yadana Jade Hall to be sold at the emporium. Concerning the reports of officials, the Prime Minister gave necessary instructions.

And then, the Prime Minister and party observed opening of private gems and jewellery sale shops and 35-ton jade block extracted from Mat Lin Chaung Joint venture (2) of Lone Khin/Hpakant gems land. Myanmar Gems Emporiums have been held since 1964 in order to generate foreign income for the state and economic interests of the people.

In the emporium, 295 pearl lots, 120 gems lots and 2,150 jade lots will be sold to local and foreign gems merchants through open tender system in accordance with rules and regulations. In selling pearl lots, the floor price for pearl lots is set in US dollars. Foreign gems merchants will pay in US dollars, Euro, Yuan and Thai baht and local traders must pay in Myanmar kyat equivalent to the market price.

The floor price for gems and jade lots is set in Euros and foreign gems merchants will pay in US dollars, Euro, Yuan and Thai baht and local jewelers must pay in Myanmar kyat which is equivalent to the Euro. For jade lots that must be paid in foreign currency, local and foreign gems merchants will pay in US dollars, Euro, Yuan and Thai baht.

For jade lots which are to be paid in foreign currency or Myanmar kyats, local gems merchants will pay in Myanmar kyats equivalent to Euros and foreign gems merchants will pay in Euro or euro equivalent in US dollars or Yuan or Thai baht. The 58th Myanmar Gems Emporium will be displayed from 17th to 23rd March.