Approximately 3,000 foreign traders from 20 countries were reported attending the 45th Annual Gems Emporium in Myanmar this week. More than 7,000 lots of jade, 300 lots of gemstones, and 270 lots of pearl have been put on sale at the show, news agency Xinhua reported. The highest priced item --a 30-kilogram jade block-- could fetch EUR 2.38 million.

The event started Sunday and is scheduled to continue through March 20. Gem sales and exports from Myanmar, also known as Burma, have remained strong despite the United States and the European Union implementing economic sanctions against the country in protest of Myanmar’s crack-down on demonstrators in August and September 2007.