In 1997, the US government prohibited new investment in Myanmar by USA persons or entities.
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Barack Obama made the remarks after meeting with Myanmar’s de facto leader Aung San Suu Kyi in the Oval Office, a move taken to mend broken relationship between the two countries.
Obama’s decision does not normalize relations between the USA military and Myanmar troops. Concurring with the State Counsellor on the importance of the rule of law, the President said the United States would continue to support Myanmar’s efforts to develop domestic institutions to promote the rule of law and would work closely with Myanmar and other partners in ASEAN to address regional and transnational challenges including nonproliferation and countering the scourge of drugs, terrorism, and extremism.
It also settles the question of how Suu Kyi’s administration would handle issues of protocol and power-sharing with her largely ceremonial president: Htin Kyaw was sent on his first overseas mission to India, while Suu Kyi’s itinerary covers more pressing and high profile portfolios relating to ASEAN, China and the US.
From the Oval Office, Obama on Wednesday characterized the changes in Myanmar as a “remarkable social and political transformation” and stressed that the United States is “prepared” to lift the sanctions.
“We are honest in trying to bring together the different communities”, Suu Kyi told the press, saying that citizenship should be extended to everyone who is entitled to it.
Transparency watchdog Global Witness says Myanmar’s jade industry, based in a northern region plagued by civil conflict, is dominated by a military elite, USA -sanctioned drug lords and crony companies. The Myanmar leader is visiting the United States for the first time since her party won a sweeping victory in the general election previous year.
Some policymakers worry lifting sanctions completely could weaken American leverage and may let the military off the hook.
“We think that the time has now come to remove all the sanctions that hurt us economically, because our country is in a position to open up to those who are interested in taking part in our economic enterprises”, she said.
Unsafe practices in the jade industry have resulted in the deaths of hundreds of small-scale miners, while mining revenues have been used to finance the long-running conflict between the military and the Kachin Independence Army in Myanmar’s north. President Obama has discuss rolling back more of the sanctions that were applied when the nation was under military rule.
The U.S. eased broad sanctions since Myanmar began political reforms five years ago, but kept in place targeted restrictions on military-owned companies and officials and associates of the former ruling junta.
Suu Kyi is president in all but name after leading her National League for Democracy party to victory past year in the country’s first openly contested elections.
They have introduced at least two pieces of legislation to give MPs some influence on the process of easing sanctions.
Despite her ineligibility, Suu Kyi is widely considered to be Myanmar’s symbolic leader.
Sanctions against former junta leader Than Shwe and several ministers in the State Peace and Development Council will be revoked, although many may be subject to continuing congressional sanctions against the military.
Obama said that the United States would “soon” lift sanctions that remain in effect against Myanmar.
From a business perspective, sanctions legislation remains complex, and its piecemeal suspension rather than removal has inhibited many USA firms from considering market entry.
As for the concerns raised by Corker and many human rights advocates, Suu Kyi said,”we want to make sure that everyone who is entitled to citizenship is accorded citizenship as quickly and as fairly as possible”.
“It’s a good news story in an era, in which, so often we see countries going in the opposite direction”, Obama said.
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Obama turned to the once-imprisoned former opposition leader, offering his “congratulations on the progress that has been made”.
