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AFP:L Burma Opens Gem Trade Centers





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BURMA OPENS GEM TRADE CENTERS

Agence France-Presse
May 2, 1994

Rangoon--

Burma is to open its first gem trading centres today in the capital
and five other cities thought to have strong tourism potential.

Aggressively advertised by the mines ministry for the past week,
the centres should provide an additional boon to the country's
fledgling tourism industry, officials hope.

Apart from Rangoon, the ancient Burmese capital of Mandalay and the
southern city of Tuangyi  will see centres opening, as will the
border towns of Muse, Tachilek and Kawthaung.

The Burmese government already holds occasional gem emporiums in
Rangoon to auction of  precious stones produced at various mines,
but the new centres will allow private merchants to use the
facilities and foreign currencies will be accepted.

It has been previously illegal for Burmese citizens, with the
exception of authorized money-changers, to hold any foreign
currency other than Chinese foreign exchange certificates, which
the government began issuing two years ago.

Earnings from the centres are likely to be substantial: Burma is
the only country known to produce Imperial Jade, and its rubies are
reputed to be the best in the world.

Quantities of both, in polished and uncut form, continue to find
their way to foreign markets through smuggling, despite the large
rewards offered by the authorities for information leading to the
arrest of those involved in the trade.

As of Monday, gems, jewellery and jade figurines valued under
US$30,000 will be sold freely.




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Note:  Foreign press agencies are not allowed to station expatriate
correspondents in Burma.  SLORC requires that correspondents for
agencies operating in Rangoon be Burmese citizens, and who are
therefore more subject to reprisal if the government does not like
their reporting.  Consequently, reports from press agencies
datelined inside Burma often repeat stories put out by the official
press agencies with little commentary and less critical analysis. 
Reports from these agencies which emanate from bureaus outside
Burma tend to be less guarded.

-BurmaNet