YANGON, Dec 19, 2018, Myanmar Times. The Second Yangon International Gems and Jewelry Fair is set to take place in Yangon’s Lotte Hotel from January 9 to 13, according to the Gems and Jewellery Entrepreneurs Association, reported the Myanmar Times.
The association is organising the event in the hopes of developing the gems and jewellery trade in the country, penetrating international markets, and developing cooperation in the local market, said U Thein Wai Zaw, chair of the Gems and Jewellery Entrepreneurs Association.
The event will feature regular sales as well as sealed-bid auctions which will allow attendees to acquire high-quality gems and jewellery, said U Thein Wai Zaw.
“We’ll mainly show gems produced in Myanmar as readymade designs. However, a special feature of the coming event will be the sale of finished products that will be sold for export to other countries,” said Daw Klayar Pyae Wai Shan, secretary of the association.
“At present Myanmar does not have a significant position in the international jewellery market.
“The trade events in Nay Pyi Taw organised by the government only display and sell raw unfinished stones. Myanmar’s most significant trade in gems is with China for jade.
“The association hopes that the event will bring foreign buyers of Myanmar-made jewellery and turn exports into a major market for the association’s member,” Daw Klayar Pyae Wai Shan said.
“Every country has its own unique traits in terms of jewellery design. When people visit Myanmar, they buy Myanmar jewellery with distinctive Myanmar traits to resell.
“To gain more market share we need to improve in design, quality control and sales,” she said.
The Ministry of Foreign Affairs has invited gem and jewellery traders from 37 countries and 10,000 local traders to participate the event, it was learnt.
“Even during the first running of the event, foreign traders were well taken care of in terms of procedures for the legal exports of Myanmar gems and jewellery.
“For this exhibition, we have also arranged everything needed for foreign buyers so that they can take back the products they buy without delay,” she said.
Some 600 international gem and jewelleryry traders, over 6000 local traders, and a total of over 7000 visitors attended the firsth exhibition held in January.
The event generated US$290,000 in sales and revenue of K1.3 billion for the state.