Sanctions lifted allowing Americans to invest in Myanmar

Last Thursday the United States lifted sanctions which were in place against Myanmar so that now people in the United States are free to invest in Myanmar.

Many lawmakers in the country have praised this decision however human rights activists have said that it is too early to make this call.

The United States Secretary of State, Hillary Clinton has stated, “This announcement means that businesses in America will be free to trade with Myanmar. We encourage people to invest responsibly.”

The announcement was made by Clinton in Washington alongside the Foreign Minister from Myanmar, who has not visited the United States in several decades. This is the first of many moves that are set to warm the relationship between the two countries rapidly.

Secretary Clinton said that it is going to be possible to get a general license for investment in the economy of Myanmar. Financial service companies, mining, and energy companies are all going to be able to look for business opportunities in the country.

She did however say that the laws that were responsible for sanctioning Myanmar are still going to remain a possibility unless the country continues to move forward on its democratic reforms.

Clinton commented, “This is a suspension of the trade ban, not an elimination. The laws are going to remain in place as a backstop in case things go wrong. However, we are committed to expanding investment and business opportunities in the country.” President Obama has stated, “We want to ensure the ending of human rights abuse in Burma.”