In light of the recent lift of the US ban on gemstones and jade from Myanmar, the Burma Ruby Task Force said it will continue to work with industry stakeholders and government representatives to help develop a transparent supply chain that is viable for Myanmar as well as the industry as a whole.
The task force, led by American Gem Trade Association (AGTA) CEO Douglas K. Hucker and President Jeffrey Bilgore, Jewelers of America (JA) President and CEO David Bonaparte, and the Gemological Institute of America’s Dr. James Shigley, has been on the ground in Myanmar when US President Barack Obama signed an Executive Order (EO) officially lifting the ban on gemstones and jade from Myanmar. Also on the trip were Timothy Haake of Haake/Fetzer, senior counsel to JA, and representatives from the Inle Advisory Group, a Myanmar-focused business consulting group.
The EO was signed on October 7.
The ban was lifted “by Myanmar’s substantial advances to promote democracy; …and the formation of a democratically elected, civilian-led government; the release of many political prisoners; and greater enjoyment of human rights and fundamental freedoms…”
The EO clears all gemstones, including rubies and jade from Myanmar, including current and future inventory.
According to AGTA, the coalition met with industry stakeholders, government officials, gemstone dealers and miners to help assess the market outlook and to move forward developing bilateral trade between the US and Myanmar.