Lifting of sanction would have no impact on jewellery market

The jewellery market in Myanmar probably won’t improve even if America’s sanction are lifted, said U Yone Mu, the chairman of Myanmar Gems and Jewellery Entrepreneurs Association.

There is little demand from America for Myanmar’s jade, U Yone Mu said.. Before the sanction on Myanmar was imposed, America had not purchased much of Myanmar’s gems and jewellery. Therefore, the clearing of America’s sanction list will have virtually no impact on Myanmar’s jewellery market, he added. “If the sanction is lifted, we have to see the percentage of impact on Myanmar’s jewellery market. After that, there are restrictions laid down by the state”, said U Thar Tun, a jewellery entrepreneur. The gems and jewellery entrepreneurs are in a difficult situation because there is still no exact policy of gems and jewellery that has been enacted, according to the jewellery entrepreneurs.

Source: Global New Light of Myanmar

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