Ministry of Economy will initiate the introduction of licensing of exports of gold and silver, in consultation with the Ministry of Finance

Ministry of Economy will initiate the introduction of licensing of exports of gold, silver, as well as scrap and waste of these metals, in agreement with the Ministry of Finance.

says the Ministry developed draft amendments to the Ordinance of Cabinet number 1123, dated 27 December 2008.

In accordance with the decision of the Cabinet of Ministers № 1123 dated 27.12.2008 of business entities that are engaged in export of gold, silver, their scrap and waste, the Ministry received a license to export the goods without the consent of the Ministry of Finance. This rule makes it impossible to implement the Ministry of Finance proper control over the circulation of precious metals, their scrap and waste exported outside the customs territory of Ukraine , - the report says.

In this regard, the Ministry of Economics suggests adding the Cabinet decree number 1123 rule that the license for the export of gold, silver, as well as scrap and waste of these metals are issued by the Ministry of Economy in consultation with the Ministry of Finance.

The adoption of the regulations will provide an opportunity to protect the economic interests of Ukraine and ensuring public control over the export of precious metal products, scrap and waste of precious metals, - said the Ministry of Economy.

comments and suggestions to the draft regulations developed by the Cabinet Ministry takes up to 31 August at the following address: Str. Hrushevskogo 12 /2, Department of non-tariff policy of the Ministry of Economy.

As reported, the Cabinet of Ministers established in 2009 following a quota on the export of precious metals: silver (including silver coated with gold or platinum) in the raw or semi-form and in powder form (except Precious Metals) - 1 thousand kg , gold (including gold-coated platinum) in the raw or semi-form and in powder form (except Precious Metals) - 80 kg, the waste and scrap gold - 300 kg of waste and scrap silver - 200 kg.

Government has decided that the export of precious metals will be done without licensing state institutions Public storage of precious metals and precious stones of Ukraine.

Export and import of precious metals, which belong to the bank, in a manner established by the National Bank.

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