“It is the right thing to do to ensure that the people of Burma see rewards for a new way of doing business”.
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President Obama said the lifting of some sanctions would happen “soon”, but did not give further details.
“We think that the time has now come to remove all the sanctions that hurt us economically”, Suu Kyi told reporters. Instead, she serves as the country’s de facto leader by holding the positions of foreign minister and state counsellor.
She said that USA sanctions helped drive the country’s military junta to surrender power, but that the time had come to lift them.
The official and aides spoke on condition of anonymity as they are not authorized to discuss the matter ahead of Obama’s formal announcement. The sanctions did little to stem the rise of crony capitalism, but non-engagement did provide useful political and economic opportunities for neighbouring countries to bolster their influence, particularly China.
But penalties meant to block the drug trade and to bar military trade with North Korea would still apply, as would a visa ban barring some former and current members of the military from travelling to the US.
Kathleen Newland, co-founder of the Migration Policy Institute, said the large numbers from Myanmar and Congo are to some degree vestiges of USA policy after the September 11, 2001, terrorist attacks when lawmakers halted refugees from countries with links to terrorist groups such as al-Qaida.
But human rights groups say there are powerful reasons for retaining sanctions.
Several megaprojects that have come under fire for human rights abuses, including the Myitsone Dam in Kachin State and the Letpadaung copper mine in Sagaing Region, are backed in part by firms featured on the current SDN list. A top concern is for Rohingya Muslims, who remain displaced by sectarian violence and are denied citizenship.
“Lifting restrictions before the new government’s reforms have borne fruit effectively invites U.S. companies to do business with some of the worst figures from the country’s past”. U.S. President George W. Bush imposed new sanctions, banning the import of products from Myanmar and the export of financial services, placing a freeze on the assets of certain Burmese financial institutions, and extending visa restrictions on Burmese officials.
New investment approvals have fallen since Suu Kyi took power in April and some businesses and investors have criticized her for failing to prioritize the economy.
She also stressed that Myanmar welcomes global investment to help promote strong, inclusive, and long-term economic growth. In 1989 military rule the name was changed. Myanmar economists and businessmen welcome President Barack Obama’s announcement that the USA will lift. This includes the restoration of the GSP trade benefits to Myanmar in light of progress on a number of fronts, including strengthening protections for internationally recognised worker rights.
Kept under house arrest for nearly 15 years, Suu Kyi is legally barred from becoming Myanmar’s president since her two sons are British citizens. On that occasion, she was presented with the Congressional Gold Medal, the legislature’s highest civilian honour, which she had been awarded in 2008 while under house arrest. Changing the country’s constitution to make her eligible for the top post would require the support of the military’s large voting bloc in parliament, which leaders have signaled is unlikely.
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Last week, a commission Suu Kyi set up and charged with making recommendations on the situation and which is led by former U.N. Secretary-General Kofi Annan traveled to Myanmar for the first time.
