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Home >> Business
UPDATED: 13:59, December 30, 2006
Myanmar to hold gems exhibition in March
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Myanmar will hold a gems exhibition in March next year targeting mainly at merchants abroad, state-run media reported on Saturday.

Domestically produced quality gems, jade, pearl and jewelry will be displayed and sold through competitive bidding and at fixed prices at the 44th annual gem show, the New Light of Myanmar newspaper reported without disclosing the value of gem items to be put on display.

In March this year, the 11-day-long 43rd annual Myanmar gems show broke sale record since it was introduced with 101 million U. S. dollars. It was attended by 2,380 gem merchants including 1,484 of 423 companies from 16 countries and regions, mostly from China, China's Hong Kong Special Administrative Region (SAR) and Thailand. The number of attendants was two times more than expected.

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 1992 and the special sale since 2004, according to official statistics.

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 both at home and abroad.

Since 2000, the government has started mining of gems and jade in joint ventures with 10 private companies under profit sharing basis.

Source: Xinhua

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