YANGON, March 17 (Xinhua) -- Myanmar kicked off its 58th gems exhibition in the capital city of Nay Pyi Taw on Friday, the state media reported.

The exhibition is aimed at getting foreign currency income and obtaining economic benefits for the citizens, it said.

Myanmar's State Administration Council Chairman Min Aung Hlaing also attended the opening ceremony of the exhibition, the report said.

The event will put a total of 295 pearl lots, 120 gems lots and 2,150 jade lots on sale under an open tender system during the seven days until Thursday, it said.

Foreign merchants may purchase the jade, gems and pearl lots in the U.S. dollar, euro, the Chinese yuan and Thai baht, and local merchants may buy them in the local currency, the kyat, it added.

The event has been held since 1946.