Myanmar to export gold to foreign markets

Myanmar will export gold to Shanghai, Dubai and Thailand, said Dr Ye Thu Aung, director of Myanmar Gold Development Public Co., Ltd at a ceremony to open One Stop Services Center (OSSC) at Myanmar Culture Valley in the People’s Squares in Yangon on September 24.

The OSSC will provide one stop services for exports and imports of gold and gold wares. Currently, merchants are exporting local-made gold via illegal routes. Even there are the sales of local-made gold printed with the emblems of other countries.

Thanks to the OSSC, local merchants can export and imports gold officially. The committee will control the matters relating to duty and licenses with a policy. They can do exports and imports of gold after paying taxes, he added.

The OSSC has signed a Memorandum of Understanding (MoU) with a logistic service company for the smooth operations of gold exports and imports. Gold will be traded according to the global gold price.

Source: Eleven Myanmar

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