CNI News

11 December 2024

If Myanmar gold could be sold in the global market with meeting standards, the value of Myanmar kyat would rise, businessmen told CNI News. 

Although efforts were made to be able to sell Myanmar gold in the global market through the ages, it has not succeeded up to now for many reasons. 

At present, the Yangon Gold Entrepreneurs Association opened a gold laboratory and is carrying out to win an ISO certificate in order that Myanmar gold can be sold again in the global market, according to gold entrepreneurs.

If the gold produced within the country could be sold to the international market, the value of Myanmar kyat would rise, U Aung Pyae Sone, an economic commentator, told CNI News.

While seeing a Myanmar gold bar

" Efforts have been made to sell Myanmar gold in other countries for long. But again, efforts is being made to sell it which I recognize. If the gold produced within Myanmar can be traded in foreign countries, local price will rise if the world price rises. But we have experienced inconveniences since under the previous government. If we can reform things that could cause unsuccessfulness and sell Myanmar gold, the value of Myanmar kyat will rise as well." he said.

Myanmar gold is being sold just a little to Japan as jewelries and the YGEA was trying to sell high quality Myanmar gold bars at the stock exchanges in the US, England and Australia, chairman of the YGEA, U Myo Myint told CNI News.

While seeing gold and dollars( Photo-Mawgun)

"The YGEA is trying to make Myanmar gold become world class gold. Standard scales are being made. A standard laboratory is being built as well. Jade and sapphires are framed in gold and they are being exported abroad. Mainly, kilogram plates of pure gold must be exported. If we can export them, national income will increase. The value of Myanmar gold will rise. If we can sell Myanmar gold at the international market, it can be exported to the markets of England, the US, Japan and Australia or trade at the world stock exchanges." he said.

At present, 14 stock exchanges and transportation companies have been linked in order that Myanmar gold can be exported to the international market and Thailand, Singapore, China, the US, India and European countries are interested in it.