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Thais fret over looming Burmese ban

March 17, 2008

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Bangkok, Thailand—A strong Thai presence at the ongoing gemstone auction in the military-ruled state of Myanmar (formerly Burma) may jeopardize Thailand's opportunity to export to Western countries, including the United States, the Agence France-Presse (AFP) reports.

A report from the AFP indicates that Thailand imports upwards of $2 million of gems from Myanmar each year and, in turn, the United States, Hong Kong and Australia are the top three destinations for Thai jewelry exports.

Thai Gem and Jewellery Traders Association (TGJTA) President Vichai Assarasakorn told the AFP that this means sanctions over trade in gems from Myanmar by the United States or European Union "will certainly hurt some gem and jewelry exporters in Thailand."

Thailand's gem and jewelry exports increased nearly 47 percent to $5.3 billion in 2007, but that number could drop substantially in 2008 if the ban on Burmese gemstones cut in Thailand is implemented, AFP says.

The 11,000-member Jewelers of America (JA) and major retailers, including Cartier, Tiffany and Co. and Bulgari, support the ban on Burmese stones, which is designed to take economic aim at Myanmar's ruling military junta, known for human rights abuses and for using force against dissidents.

Myanmar's government launched the 12-day gem auction on March 9, offering more than 7,700 lots of gems, pearls and jade worth more than $153 million.
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