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YANGON, Oct. 19 (Xinhua) -- A
mid-year Myanmar gems emporium kicked off here
Thursday, putting the country's quality gems, jade,
pearl and jewelry worth over 75 million U.S. dollars
on sale on the basis of competitive bidding.
Over 1,000 merchants from 12 countries and
regions, including China, China's Hong Kong,
Thailand and Japan, have arrived to attend the
11-day event being held at the Myanma Gems Emporium
Hall and Myanmar Convention Center, said Managing
Director of Myanma Gems Enterprise U Thein Swe at a
press briefing here.
The 14th Mid-Year Gems Emporium will offer more
gem items than the previous years for display and
will attract more gem merchants than before, U Thein
Swe said.
The Gems Emporium will display 4,237 jade lots,
which is three times than those in 2004 and two
times than in 2005, he said, adding that more jade
lots are displayed because of market demand, and the
merchants visiting the emporium are mostly from
China and China's Hong Kong.
At the Emporium, a piece of most valuable ruby
weighing 7.2 grams is displayed for bidding at a
basic price of 625,000 U.S. dollars and a jade block
weighing 1,188 kilos is also displayed for bidding
with no basic price offered.
Mid-year gems emporiums have been introduced in
addition to the annual ones since 1992 to boost
earnings.
In March this year, the 43rd annual Myanmar gems
emporium was held breaking sale record since it was
introduced with 101 million U.S. dollars.
Myanmar started to hold gem shows annually in
1964 and since then the country has earned a total
of over 600 million dollars from such events
including the mid-year ones introduced since 1992and
the special sale since 2004.
Myanmar, a well-known producer of gems in the
world, possesses nine gems -- ruby, diamond, cat's
eye, emerald, topaz, pearl, sapphire, coral and a
variety of garnet tinged with yellow.
There are three famous gem lands in Myanmar --
Mogok in Mandalay division, Mongshu in Shan state
and Phakant in Kachin state.
To develop gem-mining industry, Myanmar enacted
the New Gemstone Law in 1995, allowing national
entrepreneurs to mine, produce, transport and sell
finished gemstone and manufactured jewelry at home
and abroad.
Since 2000, the government has started mining of
gems and jade in joint venture with 10 private
companies under profit sharing basis. |