July 01, 2017

Breaking News

Submission to form a gems and jewelry research body will be made during new government

Gem merchants are seen observing the precious stones. Photo: Myitmakah News Agency
Gem merchants are seen observing the precious stones. Photo: Myitmakah News Agency

THE Myanmar Gems and Jewellery Entrepreneurs Association (MGJEA) has made it known that they will make a submission to the new government for the establishment of a gems and jewelry research body, in a bid to conduct research on the domestic jade market and to increase the capacity of exporting jade around the world.
“Civil society organisations, and those business individuals officially involved in the jade market, will be a part [of the body]. We will make a submission during the term of the new government for the forming of a jade market research entity.” said U Soe Naing, central executive of the MGJEA.
It is known from those involved in the jade market that there is currently no monitoring body of the jade market which gives neither criticisms nor suggestions. As a result, only uncut jade is exported to foreign countries as, despite jade being mined, there is no market within which to trade it.
“Many jade sellers, myself included, refrain from making demands as disapproval from those in authority could be bad for business.” said jade trader U Zaw Zaw.
A plan is in place to present for the formation of an organization made up of the public and civil society groups in a bid to improve the domestic jade market and enable jade from Myanmar to be traded on international markets.
Jade traders have made it known that the majority of jade enterprises within the Myanmar jade market are owned by the Chinese, accounting for 70%, with Myanmar owned enterprises making up just 30% of the market.

Comments

Related posts

Translate »