NAY PYI TAW, March 11 (Xinhua) -- The 56th Myanmar Gems Emporium kicked off here on Monday, attracting over 4,000 merchants from home and abroad.

A total of 7,748 lots including 274 pearl lots, 500 gems lots and 6,974 jade lots are being put on sale under the open tender system at the annual emporium which is set to last until March 20.

The 10-day emporium being held at the Maniyadana Jade Hall expects to sell about 500 million euros (562.3 million U.S. dollars) worth of jade, gems and pearl lots, General Director Min Thu of Myanmar Gems Enterprise under the Ministry of Natural Resources and Environmental Conservation told Xinhua.

Licensed and authorized local and foreign buyers included those from China, Thailand, Australia, the United States and India, the majority of which are from China.

Myanmar gems emporium has been held annually since 1964 under the management of the Ministry of Natural Resource and Environmental Conservation.

About 499.6 million U.S. dollars worth of jade, gems and pearl lots were sold at the 55th Myanmar Gems Emporium held in June, 2018.