Myanmar legalizes gold imports and exports


Gold Exports Now Permitted in Myanmar

By Thiha Ko Ko
Myanmar Times, Yangon
Wednesday, January 24, 2018

Gold and gold jewelry and accessories have been legally cleared for import and export, the Ministry of Commerce said Monday.

Traders will now be able to sell gold, which is mined as a natural resource in Myanmar, to buyers overseas. The move is the first step in a government effort to establish a legal gold market in which local and international traders can engage. By doing so, the government also hopes to raise tax revenues, said U Khin Maung Lwin, the ministry's assistant secretary.

Allowing the export of Myanmar gold, which was prohibited in the past, actually took the ministry three years.

Now gold, gold jewelry, and accessories with gold can be traded via air and sea routes as well as across the border. ...

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