YANGON: The 61st Myanmar Gems Emporium will be held for 10 days from Oct 8 to 17, according to the second meeting of the Central Committee for the Myanmar Gems Emporium, held at the Mani Yadana Jade Hall in Naypyidaw on Sept 30.
At the 61st Myanmar Gems Emporium, 700 pearl lots, 160 gemstone lots and 3,073 jade lots will be sold through a tender system according to the designated dates. The jade lots comprise 350 Grade A lots, 1,255 Grade B lots and 1,468 Grade C lots.
At the meeting, Union Minister for Natural Resources and Environmental Conservation U San Oo said that, as in previous emporiums, arrangements would be made for gem merchants to pay security deposits and the value of gem lots in US dollars, foreign currencies accepted by the Central Bank of Myanmar equivalent to US dollars, or Myanmar kyats, depending on the type of gem lots.
He said that, when determining exchange rates equivalent to the US dollar, the highest exchange rate among those announced by the Central Bank of Myanmar and private banks would be applied to the security deposits and valuation rates for pearl, gemstone and designated jade lots, with the aim of preventing losses to the State and enabling domestic and foreign gem merchants to compete in bidding for the lots.
He added that the exchange rates announced by the Central Bank of Myanmar and private banks on October 8, the opening day of the emporium, would be used for the calculation.
Members of the Central Committee for the Myanmar Gems Emporium, as well as the chairman and members of the Myanmar Gems and Jewellery Entrepreneurs Association, reported on preparations made by their respective working committees, and necessary coordination was carried out, according to reports. - Eleven Media/ANN
