Better jewellery market needed in Myanmar: official
Source: The Myanmar Times Time:2020-01-14 16:12:37
Shoppers look at jewellery at a Yangon exhibition. Shin Moe Myint/The Myanmar Times
Myanmar’s neighbours have been developing better markets for raw gems, U La Hpai Khun Sa, chair of the Myanmar Gems and Jewellery Entrepreneurs’ Federation, told state media. This is the case despite Myanmar being a producer of precious stones.
He said raw gems produced in Myanmar are exported to countries like Thailand and China, where the gems are used to make expensive jewellery using “state-of-the-art technologies.”
To catch up with its neighbours, Myanmar must add more value and talent to its fledgling jewellery market, U La Hpai Khun Sa said.
Currently, weak cooperation between entrepreneurs, the associations and related departments hold back growth and development in the jewellery market in Myanmar.
While there is a small market for Myanmar-made jewellery, many of the finished goods are sold for much cheaper prices compared to other countries. One reason is the gems can be sourced locally, but quality is also lacking, U La Hpai Khun Sa said.
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