ASTANA, Kazakhstan, December 3. The Ministry of Industry of Kazakhstan has given the green light to fresh regulations governing the import and export of gold and silver, Trend reports.
These new regulations cover nations not belonging to the Eurasian Economic Union (EEU). These exchanges will now be under state administration by the authorised body.
State control will entail inspecting batches of precious metals and raw materials containing them for compliance with the associated data, including regulatory technical and technical documents; Precious metal valuation using world market values; Determining precious metal and raw material origins; Ensure Kazakhstani law is followed in precious metal and raw material dealings; Controlling valuable metals and extractable metals in raw materials containing them, among other considerations.
Additionally, an export or processing permit will be issued by the authorized body for the total forecasted annual volume of raw materials containing precious metals. Documents will be submitted electronically through the "electronic government" portal of the Republic of Kazakhstan.
Kazakhstan ranks seventh in the world in terms of increasing gold reserves over the last decade—from 2013 to 2023. During this period, Kazakhstan’s National Bank’s gold reserves grew by 151 tons.