US Lifts Myanmar Economic Sanctions

The United States President Barack Obama finally said “it’s the right thing to do” for Myanmar.

Obama said economic sanctions on the country would be lifted following a meeting with Myanmar de facto leader Aung San Suu Kyi at the White House on Wednesday.

Suu Kyi is a former political dissident in the country and earlier this year in March her government took power.

Obama added, “The United States is now prepared to lift sanctions that we have imposed on Burma for quite some time. It’s the right thing to do.”

He mentioned the ongoing transition to democracy in Myanmar is a good news story.

Myanmar is presently a fast-growing nation in the Southeast Asian region. Formerly the country was known as Burma. In 1989 military rule the name was changed.

Meanwhile, US business houses have been watching the new relationship of the two nations closely as sanctions hindered them from competing with rivals.

Suu Kyi said, “We are very interested in successful businesses… We think our country is ready to take off.”

The US imposed sanctions first in 1990 to weaken the regime of military power.

The US is working on increasing aids to Myanmar to help grow the economy.

Experts believe some of the sanctions are still required for Myanmar. Do you believe the same? Do share your views with us and fellow readers in the below given comment box.