Gems and jewelry are another important source of export earnings for Myanmar, including jade were sold to China. Myanmar has also long been famous for its rubies and sapphires were mined mainly in the Mogok valley – which is closed to foreigners. There are a lot of illegal activity in this sector is almost impossible to calculate the precise statistics, but many believe it is the second source of export earnings for Myanmar behind natural gas. We hope that in the future will be more regulation of the industry, making it illegal to limit the black market.
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The current government is aware of the potential revenue to be gained from trade entirely legitimate gems has already taken steps to regulate and strengthen the industry. One of these measures to open a semi-annual jewelry exhibitions in Naypyitaw, which allows international operators to legally purchase the Myanmar gems at good prices. As is the case in most industries Myanmar, most jewelry is sold raw and uncut – cut and polished in other countries where they operate better technology. Myanmar gems cut usually only for the domestic market.
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