YANGON, March 10 (Xinhua) -- The 56th Myanmar Gems Emporium is due to kick off in the capital city of Nay Pyi Taw on Monday, expecting to attract over 2,600 gems merchants from China, Thailand, Australia and the United States, according to the Ministry of Natural Resources and Environmental Conservation on Sunday.
The emporium, which is also expected to draw over 900 local gems merchants, will put a total of 274 pearl lots, 500 jewelry lots and 6,974 jade lots on sale at the 10-day event which will last until March 20.
Arrangements will also be made to produce and sell finished gemstones and jewelry besides selling raw gems, said U Ohn Win, minister of natural resources and environmental conservation, when pre-inspecting the display of gems and jade lots on Saturday to be auctioned at the event.
In the last 55th Myanmar Gems Emporium held in June 2018, 495 million U.S. dollars worth of 5,259 jade lots, 3 million U.S. dollars worth of 341 pearl lots and 1.6 million U.S. dollars worth of 69 gems lots were sold under open tender system.
At that event, licensed and authorized buyers from both home and abroad included those from China, Thailand, Canada, Australia and the United States, of whom the majority were from China.
Sponsored by the ministry, Myanmar gems emporium has been held annually since 1964.