During this week’s visit to Washington DC of State Counsellor Aung San Suu Kyi, President Obama has promised to lift sanctions against Myanmar.
Myanmar - President Obama indicates the US is preparing to lift economic sanctions, September 2016
According to reports, the move reflects a change in policy on the part of Aung San Suu Kyi, who has previously argued for the retention of sanctions. She has been quoted as saying that the opening up of the country means “the time has come to remove all the sanctions that hurt us economically.”
President Obama did not give a timescale for the removal of sanctions other than to say it would happen “soon.”
The announcement from the White House press office also indicated that the US will restore Generalized System of Preferences (GSP) trade benefits to Myanmar in the light of strengthened protection of workers’ rights. This move should result in duty free imports into the US of Burmese goods.
Reuters has indicated that “several” restrictions, including barring visas for military leaders, will remain in place. Full details (and the business implications thereof) will, no doubt, emerge in the coming weeks.
Please use the following links to read the official White House press release relating to the state visit and also some comment from Reuters and the Myanmar Times on the anticipated changes to the sanctions regime: