Sales of Pearls, Gems and Jade: Myanmar Gems Emporium to be held from October 8 to 17

The 61st edition of Myanmar Gems Emporium is schedule to take place from October 8th to 17th at the Mani Yadana Jade Hall and arrangements are being made to sell 700 pearl lots, 160 gem lots and 3,073 jade lots through tender system.

As part of the event, the Central Committee for Holding Myanmar Gems Emporium, held a meeting at the Mani Yadana Jade Hall in Nay Pyi Taw on Wednesday, with the attendance of Union Minister for Natural Resources and Environmental Conservation U San Oo.

The Union Minister said that plans are underway for gem merchants to make payments for deposits and the value of gem lots in US dollars or in foreign currencies accepted by the Central Bank of Myanmar or in Myanmar kyats which equivalent in value to US dollars.

Regarding the exchange rates equivalent to the US dollar for lots of pearls, gemstones, and jade, the Union Minister added transactions will be conducted based on the highest exchange rates published by the Central Bank of Myanmar and private banks, in order to prevent financial loss to the country and to encourage competitive bidding among domestic and international gem traders. Attendees later reported on current working process and the Union Minister coordinated the needs.