June 13, 2020

Myanmar earned US$ 420 million from over 1,960 tonnes of jade export in eight months of this fiscal year (FY), said an official from the Ministry of Commerce.

Myanmar has earned $102.036 million more from the export of 558 tonnes of jade this year, compared to that of last year.

Myanmar earned $420.036 million from the export of 1,964 tonnes of jade in eight months of this fiscal year from 1 October to 22 May. The same period of last year, Myanmar exported 1,406 tonnes of jade and earned $318 million. The jades are being sold through the launching of the expos. During the expos, Myanmar can export more jade products. If the jades are sold by cash memo, they need to use only the cash memo produced by the Myanmar Gems Trade Centre. If they accept the case for selling the jades, they need to sell the jades only with Myanmar Kyats. Every cash memo needs to be embossed with the seals and describe the necessary information.

If they are selling the jade in foreign currencies, they need to use debit and credit cards, Visa, Master, JCB, CUP from the foreign banks. They need to fill up the buyer’s name, passport number and card number. Although the government targeted to earn over K56.4 billion from jade and jewellery production, they earned over K97.8 billion from jade and jewellery production, according to the Ministry of Natural Resources and Environmental Conservation. — Aye Maung (Translated by Hay Mar)