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Tuesday, August 13, 2013

Myanmar Gem Trade

If you have followed the news this past spring/summer you probably heard something about Myanmar (formerly Burma) slowly opening its borders to western media and culture.  The country has long had trade sanctions and other penalties imposed upon it from the west due to human rights concerns stemming from the nations long standing military government.  The past year has seen a weakening of this government, and rapid growth in the civil rights movement leading to strong hope that the country to soon rejoin international trade with the rest of the world.   Myanmar's gem trade is a particular area of interest since this is one of the industries most associated with human rights issues.  The country is a historical hotbed for rare gemstones like Sapphire, Ruby and Jade, much of which has been unable to be exported due to United Nations imposed trade sanctions.  Thousands of carats a year still make it out of the maligned nation through illegal smuggling but this does not benefit the country's economy and thus is inhibiting their growth.  This past week president Obama extended these trade sanctions on gem imports from Myanmar, further putting pressure on the country to either meet international expectations about their social and political issues, or risk another setback in the country's reintroduction into the international community.

You can read more about this week's news here....

U.S. updates Myanmar sanctions to maintain gem import ban

Shop for Ruby and Sapphire three stone rings on our website here...

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