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Myanmar to hold gems, jade sales in local currency next year

YANGON, Dec. 10 (Xinhua) — Myanmar has planned to hold gems and jade sales in local currency Kyat in capital Nay Pyi Taw in January next year, said a release from Myanma Gems Enterprise (MGE) on Tuesday.

Scheduled to be held on Jan. 2 to 7 next year, the gems and jade sale is organized by the MGE under the Ministry of Natural Resources and Environmental Conservation.

At the six-day event, gems and jade lots will be sold only to local merchants to help them prevent from the shortage of raw gems, to support production of finished products, to create job opportunities and to prevent illegal exports, an official media reported.

The previous gems and jade sale, which was held in June this year, fetched 60.89 billion kyats (40.6 million U.S. dollars) from the sale of 49 gems lots and 3,011 jade lots, with 2,010 local merchants in attendance.

Source : Asia & Pacific

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