30 Sep 2016
On the occasion of Myanmar’s State Counselor Aung San Suu Kyi’s recent visit to the United States (U.S.), President Obama announced that executive sanctions on Myanmar would soon be lifted. This will grant Myanmar greater access to the U.S. market and encourage U.S. companies to invest in the country. Trade between the two countries remains at relatively low levels (i.e. $225 million in 2015), with U.S. investment to Myanmar accounting for only 0.2% of the country’s Foreign Direct Investment (FDI). Lifting the sanctions would remove a number of trade and investment barriers, which in turn would strengthen Myanmar’s competitiveness and foster growth across its economy. It would also allow the country to diversify its range of trading partners (e.g. only 2% of its exports end up in non-Asian economies).
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