Gem Association to take part in Thai Fair

The merchants from Gem and Jewellery Entrepreneurs Association (Yangon) have been taking part in the event every year since 2014, vice chair Dr Aung Kyaw Win said.

“Thai people are skilful in heating and purifying ruby and sapphire. We will have a chance to do business with other countries,” he added.

Fifty booths from Myanmar merchants participated in the Thailand Gems and Jewelry Fair last year. Thailand is buying raw gems from international markets as well as from Mogoke in Myanmar.

Recently, ruby production from Mogoke has been in decline and thus export to Thailand has also decreased correspondingly.

In 2016, Somchai Phornchin-darak, chair of Gems, Jewelry and Precious Metal Confederation of Thailand, replied to the query by The Myanmar Times.

Several years ago, around 30 percent of gems traded in Thailand were bought from Myanmar, but the figure has since fallen to just 5pc due to raw gems scarcity.

Thai traders won bids up to the value of two billion baht. Some bought directly from Myanmar’s mines but there were no records, Mr Phornchindarak said.

The two billion baht is the amount purchased from the Myanmar government at an auction in 2015 but there are trade unknown to the official figures, on top of that two billion baht, another vice chair Autul Jogani said.

The Thailand Gems and Jewelry Fair will be held for three days from June 15 to 18 at Muang Thong Thani, Bangkok. Myanmar gem merchants will host their exhibitions.

Source: Myanmar Times