US sanctions force jade into a corner, say traders

Jade traders say US sanctions have forced them to rely on Chinese investors and buyers, who dodge taxes and operate with little to no transparency. If Washington were to remove sanctions, they say, it would speed up reform in the troubled sector. Since the US banned imports of gems and jade in 2003, China has […]

Sagaing set to sparkle with gems market

Sagaing businesspeople aim to capitalise on the city’s informal gems and jade trade by opening a formal gems market as soon as this year. The gems market will help eliminate illegal trade and bring revenue flows into the open, as well as operate as a business in its own right, according to U Aung Gyi, […]