EFFORTS are being exerted to resume the export of Myanmar’s gold ornaments to international markets, said Chairman U Myo Myint of the Yangon Region Precious Metal (gold) Dealers Association.
The 12-karat gold ornaments will be primarily exported. The majority of them are ornamental items and personal adornments.
“Myanmar conveyed gold ornaments to Japan and South Korea before 2020. Gold ornaments export shrank to almost nothing, forcing over 10,000 goldsmiths to be unemployed in Yangon. Gold exports will create job opportunities for goldsmiths. Foreign market prefers ornamental items and personal adornments made from pure gold. Therefore, the market is expected to recover. The gold jewellery made from 12-karat gold will be designated for exports. I expect there will be smooth trade,” he added.
Over 1,000 gold shops have sought a metal (gold) trading licence in Yangon Region. There are 1,500 gold shop operators seeking a gold business licence, with two new shops opening every month, Yangon Region Gold Entrepreneurs Association. — ASH/KK
