US eases economic sanctions against Myanmar
(Baonghean.vn) - On May 17, the US Treasury Department announced that the US Government decided to ease some economic sanctions against Myanmar, in order to support the country's political reform and economic development process.
In its statement, the US Treasury Department stated that Washington's decision includes easing restrictions on Myanmar's financial institutions, removing seven state-owned companies and three state-owned banks from the sanctions list, and adjusting some regulations to facilitate the movement of goods through ports and airports.
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| US President Barack Obama delivers a speech to members of the Young Southeast Asian Leaders Initiative in Yangon in November 2014. Photo: Reuters. |
However, several other sanctions remain in place against Myanmar due to its military trade ties with North Korea and human rights abuses there.
The announcement of the sanctions relief came days before US Secretary of State John Kerry’s visit to Myanmar on May 22. This will be Kerry’s first visit to Myanmar since Aung San Suu Kyi’s National League for Democracy (NLD) took power after the presidential election last November.
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| A senior US government official assessed that the election of a civilian-elected Myanmar president last November was an important condition for the country to have sanctions eased. Photo: AFP. |
For nearly half a century, the United States and its allies have imposed a series of tough sanctions on Myanmar. However, since military leaders began a process of reform leading to a transition to civilian rule in 2011, the Obama administration has taken positive steps to improve relations with the Southeast Asian nation, including easing sanctions and appointing a U.S. ambassador to the country.
In December 2015, the US government temporarily eased trade restrictions on Myanmar, allowing all goods to pass through the country's seaports and airports for six months, including those under the control of entities on the US sanctions list./.
Lan Ha
(According to AP, Channel NewsAsia)
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