1st day of Mid-Year Gems Emporium: 2024 Mid-Year Myanmar Gems Emporium commenced

The 2024 Mid-Year Myanmar Gems Emporium commenced in the morning on 18th November at the Mani Yadana Jade Hall in Nay Pyi Taw with a vibrant gathering of domestic and international gem merchants. 

Initially, both local and foreign merchants explored the exhibits inside the hall, including pearl lots, jade and gems lots. Additional jade lots displayed in designated outdoor areas were also viewed with keen interest. 

Following this, merchants submitted their bids for pearl lots and gems lots to the respective tender boxes as part of the open tender system.  At the gems emporium, 280 pearls lots, 160 gems lots and 4,800 jade lots, categorized into three groups: A, B, and C, for sale via the open tender system to both local and international merchants.  Pearl lots on November 19 and 20, Gemstone lots on November 21, Jade lots from Group A and Group B from 22 to 24, while jade lots from Group C from 25 to 27 will be sold in open tender system. 

The base prices for pearl and gemstone lots are set in US dollars.  Foreign merchants can make payments in USD, Euros, Chinese Yuan, Thai Baht, or other foreign currencies accepted by the Central Bank of Myanmar. 

The Local merchants can pay in either foreign currency or Myanmar Kyats.  For jadeite lots, Group A and Group B of jade lots are priced in USD. Both local and foreign merchants are eligible to purchase them.  Foreign merchants can pay in USD, Euros, Chinese Yuan, Thai Baht, or other Central Bank-approved currencies.

Local merchants can pay in foreign currency for Group A, or in either foreign currency or Kyats for Group B.  Group C jade lots are exclusively available to local merchants to promote MSMEs. These lots are priced in Kyats and must be paid for in Kyats. 

Additionally, jewelry and gem shops are open inside the Mani Yadana Jade Hall, drawing numerous visitors and buyers. The Ministry of Natural Resources and Environmental Conservation organizes annual exhibitions to develop Myanmar’s gems and pearl sectors. The 2024 Mid-Year Myanmar Gems Emporium will run from November 18 to 27 at the Mani Yadana Jade Hall.