Over US$ 30m fetched at Gems Emporium

Yangon, 2 Nov - Patron of the Central Committee for Organizing the Myanma Gems Emporium Minister for Mines Brig-Gen Ohn Myint arrived at the Myanma Gems Mart on Kaba Aye Pagoda Road this morning.

The minister was welcomed there by Chairman of the Central Committee Deputy Minister for Mines U Myint Thein, Secretary MGE Managing Director U Khin Oo and members. The minister viewed sales of pearl lots and cordially conversed with pearl merchants.

On 1 November, gems lots were sold through tender and competitive bidding systems. Managing Director U Khin Oo presented a jewellery studded painting and a certificate of honour to Mr Bunchuai Likhitlert of Thailand who purchased the largest amount of gems lots at the emporium. Sale of the gem lots continued at the Emporium from 5 pm to 9 pm on 1 October. A total of 21 gem lots worth US$ 5,533,439 were sold through competitive bidding system. Altogether 57 gem lots fetched US$ 21,848,503 yesterday. Pearl lots were sold through tender and competitive bidding systems this morning and 33 pearl lots worth US$ 234,813 were sold.

The Emporium continued till today from 26 October. A total of 401 jade lots worth US$ 8,241,364, 57 gem lots worth US$ 21,848,503, 33 pearl lots worth US$ 234,813, jade figurines, jewellery, gems and jade lots at fixed prices worth US$ 389,871, totalling US$ 30,714,551 were sold at the emporium. The emporium set the record to realize over US$ 30.7 million as a result of supervision of the Central Committee for Organizing the Myanma Gems Emporium, fixing of the lots at reasonable prices, systematic sales of quality gems and jade lots and assistance for attending of foreign gem merchants provided by Myanmar embassies and consulates abroad. Altogether 599 gem merchants of 218 companies from 10 countries and 370 local merchants attended the emporium.