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Myanmar Fetches Over 16.5 Mln Dolla



Myanmar Fetches Over 16.5 Mln Dollars Through Gems Sale

Xinhua, Rangoon, 11 October 2000. Myanmar fetched a total of
16. 531 million U.S. dollars through sale of locally-produced
gems, jade, pearl and jewelry at the country's Ninth Mid-Year
Gems Emporium which ended here Tuesday.

The sale proceeds show more than two times of that earned
in the last mid-year gems emporium held in October 1999.

The eight-day state-sponsored gems emporium attracted a total
of 369 merchants of 141 companies from 14 countries and regions,
mostly from China, China's Hong Kong Special Administrative
Region and Thailand.

290 merchants of 110 local companies also attended the emporium.

At the event, higher quality jade and gems from four famous mines
in the country were specially put on sale through competitive bidding
or tender.

Mid-year gems emporiums were introduced since 1992 in addition
to annual events which have been held since 1964.

At the 37th annual Myanma gems emporium, which took place in
March this year, a total of 23.847 million dollars were earned,
breaking the highest record of 1990's 27th emporium which fetched
14.839 million.

Myanmar is a well-known producer of jade, ruby and sapphire in the
world and the country has earned a total of over 319.5 million dollars
from its 37 annual and nine mid-year gems emporiums,
according to official statistics.