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YANGON, Myanmar – Officials and businessmen in Myanmar welcomed U.S. plans to easeeconomic sanctions, saying Friday it will benefit both countries ina market long cut off from most Western investment. However, human rights activists are wary and some exporters inMyanmar say they may not immediately benefit. President Barack Obama on Thursday announced he was easing aninvestment ban and naming the first U.S. ambassador to Myanmar in22 years to reward it for democratic reforms. Myanmar opposition leader Aung San Suu Kyi's election to parliamentlast month prompted Western governments to roll back years ofhard-hitting restrictions against the Asian nation also known asBurma, which is emerging from decades of authoritarian rule anddiplomatic isolation. Its former military regime was shunned for its human rights abusesand failure to hand over power to a democratically electedgovernment — a situation that began to change after a 2010general election. U.S. Secretary of State Hillary Rodham Clinton said in Washingtonthat the U.S. was suspending sanctions on export of Americanfinancial services and investment across all sectors of the Myanmareconomy — including in the resource-rich country's lucrativeoil, gas and mining sectors. She spoke after meeting with MyanmarForeign Minister Wunna Maung Lwin. Other Western nations and the European Union had already takensimilar moves, putting pressure on Washington to do likewise soU.S. companies would not lose out to foreign competitors in thislatest frontier market. Despite the easing of restrictions, U.S. companies would still bebarred from doing business with firms associated with the country'spowerful military. The White House also announced it was keepingthe legal framework of hard-hitting sanctions in place for now,saying Myanmar's democratic reforms are still "nascent." The ban on financial transactions had been a particular hurdle fordoing business in Myanmar, since the dollar is the world's maintrading currency. Transactions through other currencies raisedcosts to uncompetitive levels, Nay Zin Latt, an adviser to TheinSein, said Friday. "It's very beneficial if U.S. companies come and invest here. Wecan get technology, new markets and management skills," he said.U.S. companies will also be able to help Myanmar products reach alarger global export market, he said. For foreign investors, Myanmar has the advantage of a being alow-cost economy, important for such mass market commodities astextiles and footwear. However, restrictions that still remain on trade that will keep theAmerican export market out of the reach of Myanmar producers,pointed out Myint Soe, a factory owner who is chairman of Myanmar'sGarment Manufacturers Association Garment Factory Association. Along with the provisional nature of the suspension, "Who will dareto come and invest here?" he asked, saying local businessmen won'timmediately benefit. "We haven't achieved our goal of getting made-in-Burma productsinto the U.S. market," he said. Human rights groups and exiled Myanmar activists have been stronglycritical of easing economic controls. They are particularlyconcerned about fighting in northern Myanmar between the governmentand members of the Kachin ethnic minority. "We urge the U.S. government to be cautious in taking newdirections. We urge that the easing of sanctions needs to match upwith reality in Burma," said Sunai Phasuk, a researcher in Bangkokfor U.S.-based Human Rights Watch, highlighting the "full-scale"armed conflict in Kachin State. A U.S.-based group, United to End Genocide, said "President Obama'spremature action to remove the investment ban on Burma is overlyoptimistic. "It ignores the reality of the situation on the ground, includingongoing atrocities," the group's president, Tom Andrews, said in aprepared statement. "This is a dangerous decision that is likely tofurther exacerbate human rights abuses and has left the U.S.government without any leverage in the future." The opposition party of Aung San Suu Kyi welcomed the naming of anew ambassador to Myanmar and the easing of U.S. sanctions. Nyan Win, a spokesman for the National League for Democracy, saidthat easing sanctions now is timely but pressure on calls for therelease of political prisoners and ending ethnic conflict in ethnicregions should continue. I am an expert from polyester-sewingthread.com, while we provides the quality product, such as High Tenacity Sewing Thread Manufacturer , China Polyester Dyed Yarn, Leather Sewing Thread,and more.
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