Tuesday, 17 July 2012

Obama eases Myanmar Sanction instead of Criticizing

WASHINGTON, July 11 (UPI) -- U.S. President Barack Obama Wednesday ordered an easing of sanctions against Myanmar in response to the country's moves toward democratic reform.

Wednesday's order lifts restrictions against U.S. companies doing business in the Asian nation, formerly known as Burma, to encourage continued "progress along the path to democracy."

In a statement the president said Myanmar's government "continued to make important economic and political reforms. Easing sanctions is a strong signal of our support for reform and will provide immediate incentives for reformers and significant benefits to the people of [Myanmar]."

Obama noted much remains to be done in the country and called for transparency in the investment environment and the military's role in the economy.
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