Ma Chaw Su Win, from the Myanmar Ves jewellery company’s marketing department, shows a ring to Dorothy Conte of France at the Myanmar Ves shop in Mayangone township, Yangon, on February 27.

YANGON jewellery stores say they have enjoyed stronger sales this year than during the last tourist high season.

MK Gems managing director U Nay Min Han said sales at his shop in Hlaing township were 10pc higher than the previous tourist high season. The company’s other shop, in Yankin township, which caters to local buyers rather than foreign visitors, had seen steady sales, he added.

Ma Chaw Su Win of Myanmar Ves said sales were up on last year’s. Visitors from Western countries accounted for about 80 percent of her customers, she said.

According to the Ministry of Hotel and Tourism, foreign tourist arrivals in January 2007 were up on the same month in last year, although no figures have been made public.

Myanmar’s gem producers were dealt a blow on February 27, however, when Thailand – a key buyer of raw Myanmar gems – announced its gem and jewellery exports could grow by only half of the original target this year due to the strong Thai baht and a potential global economic slowdown.

The Thai Gem and Jewellery Traders Association (TGJTA) said its exports –the sixth-largest foreign exchange earner for the kingdom – were targeted to grow 10pc this year to US$4.1 billion.

This is down from an earlier forecast of 20pc growth for 2007.
“That appreciation (of the Thai currency) could potentially hurt our exports,” TGJTA vice president Vichai Assarasakorn told AFP.

“The Thai baht has remained strong compared to the currencies of China and India, which are our main competitors,” he added said.

The absence of a strong value-added gem industry in Myanmar means exporters here are unlikely to be able to gain much advantage out of Thailand’s appreciating currency.