56th Myanmar Gems Emporium brings local and foreign gems merchants to do trade

14 March 2019

The 56th Gems Emporium takes place at the Mani Yadana Jade Hall, Nay Pyi Taw. At the opening ceremony, on March 11th,  Vice President U Henry Van Thio attended and graced the ceremony, together with other officials.                                        

At the gems emporium, the gems, jade and pearl from raw to finished products to jewelries will be available. They all will be on sale though open tender system.

On March 12 -13, pearl lot number 1 to 274 will be open for sale. On March 14, 500 gems lots will be put on sale. In the following day, from 15 to 20 March, jade lot number 1 to 6,974 will be open for sale.

Mr. Jay from the third largest province in China called Guangdong after Beijing and Shanghai,  told MI Radio that investing money in jade or gems is a lot more profitable and beneficial than putting money into Bank. The value of money will only go up year by year. That’s why Chinese people in general love jade.

More than 90 percent of Jade imported to China is basically coming from Myanmar, Mr. Jay said. “Qing Dynasty, around 150 years ago in China, the emperor loved jade, which showed the social status of the country. It is good looking and beautiful, standing for the social status of the country. It is also a good commodity for the money to invest.”

The raw jade lots’ floor price starts from Euro 5,000, whilst the finished jade lots’ floor price is Euro 1,000 and above. At the same time, the floor price for gems lots is Euro 500 and above. Moreover, the floor price for pearl lots is Euro 1000 and above.

Based on the sale price, tax rates will be varied; 15% for raw jades, 10% for raw gems, 3% for jewelry and 1 % for finished products.

The 56th Gems Emporium will be taking place from March 11 to 20. It is the 94th exhibition in Myanmar. Over 3,000 local and foreign gems merchants are expected to join the gems emporium. Most of the international merchants are from China.

Local merchant, U Soe Min from Soe Yadanar Jade & Jewelry Sale expressed, “All the natural resources produced here can be found in this 56th Gems Emporium. It is a state-level event hosted by the government of Myanmar. I am delighted to see that the international traders buy the gems products from Myanmar with the highest amount.”

U Soe Min further remarked that this kind of gems emporium would create further friendship and cooperation among international and local merchants and traders, from Myanmar, India and China.

Mr. Jay from China pointed out that natural resources are limited. “Within several decades, the high quality jade or gems in general will be running out.”

LOOM