BUSINESS Myanmar earns over 39 mln USD from gems, jade sale event

BUSINESS

Myanmar earns over 39 mln USD from gems, jade sale event

Xinhua

21:40, January 07, 2020

NAY PYI TAW, Jan. 7 (Xinhua) -- Myanmar earned over 59.4 billion kyats (39.6 million U.S. dollars) from a gems and jade sale event which was concluded on Tuesday, an official of Myanma Gems Enterprise (MGE) told media.

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A buyer checks a jade stone before the auction during the annual Myanmar Jade, Gems and Pearl Emporium in Myanmar's capital of Naypyidaw on September 16, 2019. (File photo by AFP)

The gems and jade sale event, kicked off in capital city Nay Pyi Taw on Jan. 2, was organized by the Myanma Gems Enterprise (MGE) under the Ministry of Natural Resources and Environmental Conservation.

A total of 3,491 jade lots and nine gem lots were sold at the event, with 2,023 merchants in attendance, said General Manager Thet Khaing.

All 25 state-owned jade lots were sold out at the event and fetched about 450 million kyats (300,000 U.S. dollars), he added.

The last gems and jade sale, which was held in June 2019, 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.

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