16 Aug
SUPPLIERS for Alibaba have purchased jade at Mandalay Yadanar Mall located on the corner of 78th and 34th Streets.
The mall is crowded with jewellery buyers and sellers after 4 pm, and traders run their businesses in the morning and afternoon at Maha Aungmye jewellery market, and then continue operating at the jade night market in Mandalay Yadanar Mall.
“The direct purchases by the big traders helps develop the finished jewellery market. Therefore, the Yadanar Mall night market was expanded. So it does not harm the Maha Aungmye jewellery market, Yadanar Mall was created to operate at night”, said U Thein Win, secretary of Mandalay Yadanar Mall.
The night market was estab lished following meetings on the country’s increasing revenues, development of the local jewellery market and attracting more traders and Alibaba suppliers. It will also help increase the tourism sector and set up firm markets for locally produced jade and jewellery.
“Now, sellers can generate money in a day. They purchase raw materials, make the finished products in the afternoon, and sell them in the evening”, he noted.
“I like Myanmar’s jade. This is the second time that I came to purchase directly. I have learnt how Myanmar appraises jade. I purchased jade products, including bracelets, sculpture and jewellery”, said Mr Liu Yang, CEO of Paktrade Co, Ltd, who came to purchase jade from China.
Chinese traders are often seen in the jewellery market. Jade is most in demand, and the traders also buy ruby and sapphire products. The market is packed with over 300 Chinese, 50 foreigners and local traders.—Khine Set Wai (Translated by Ei Myat Mon)
