Tag Archives: sanctions

Fashion industry going strong Reply

by • Myanmar (Burma) News • Tags: , , , ,

fashionReposted from Myanmar Business Network

Undaunted by the former sanctions regime, Myanmar’s home-grown garment industry is thriving, industry experts say. They attribute the success to the industry’s ability to cater to local tastes.

Over the past five years, local garment brands have been taking over more space because of their competitive price and good quality, some say. Unlike export-oriented businesses, they can employ and pay staff year-round without the need to wait for orders from overseas.

“We can pay the same wages throughout the year, without night-work and overtime, because we are operating the factory regularly. We know the tastes of Myanmar women and what kind of designs they prefer. Normally we copy the designs from Thai garments,” said Daw Sein Lae Lae, owner of Dear Brand garment factory in Shwe Pyi Thar township. The factory has more than 400 workers. More…

Myanmar anticipates total lift of EU sanctions Reply

by • Myanmar (Burma) News • Tags: , , , , , ,

Aung San Suu Kyi

Aung San Suu Kyi

Reposted from Global Times

Foreign ministers of the European Union (EU) are due to meet in Luxembourg on Monday to make a decision to withdraw all sanctions against Myanmar, exactly a year after the regional grouping announced suspension of most sanctions against the country for a year except arms embargo.

EU’s expected total lifting of all sanctions against Myanmar in recognition of its significant reform process would boost EU’s investment in the country and further promote Myanmar-EU relations.

In March this year, Myanmar President U Thein Sein paid an 11- day goodwill visit to the five European countries of Norway, Finland, Austria, Belgium and Italy. The milestone trip has brought about enhancement of bilateral ties with the EU countries. More…

EU poised to ease Syria and Myanmar sanctions Reply

by • Myanmar (Burma) News • Tags: , , , , , ,

Myanmar_01Reposted from EuropeanVoice.com
By Andrew Gardner

Foreign ministers will also discuss Mali and the Eastern partnership.

The European Union’s foreign ministers will next week (22-23 April) end most sanctions against Myanmar and are highly likely to increase support for rebels in Syria.

A proposal to support Myanmar’s move towards democracy will be rubber-stamped, with all sanctions, except on arms, being removed. There remains uncertainty about the rollback of Syrian sanctions, but only for technical reasons. At Germany’s suggestion, the EU would allow imports of Syrian oil, subject to the support of the rebel Syrian National Council, and could supply equipment to the energy sector in rebel-controlled areas. A more ambitious Anglo-French proposal to end the ban on arms for the rebels is not on the agenda. More…

Home truths about those Sanctions Reply

by • Myanmar (Burma) News • Tags: , , , ,

Derek Tonkin of Network Myanmar

Derek Tonkin of Network Myanmar

Reposted from Mizzima News
By Derek Tonkin

In her article, ‘Advocacy groups urge EU to maintain sanctions’, Rosie Gogan-Keogh suggested that this activist cabal might be seeking a delay in lifting the remaining sanctions. I think rather that they are seeking the continuance of their suspension. The sanctions were indeed all temporarily lifted in April last year, apart from the arms embargo and the restoration of benefits under the Generalised System of Preferences (GSP), which is being handled separately.

The advocacy groups make the case that none of the EU’s benchmarks for permanently lifting sanctions has yet been met and that it is important to maintain pressure. They base their case however on the latest mythology surrounding sanctions which is, as they say, that: “International pressure has clearly played a motivating role in the reforms currently taking place.” As a matter of ideology it is too much for some to accept that the former military regime might have been working to a plan all along. More…

Most Myanmar banks permitted to do business with US firms, bankers say Reply

by • Myanmar (Burma) News • Tags: , , , , , ,

b_5_49_akk_08Reposted from Eleven Myanmar

Except for the three banks still on the United States’ blacklist, all banks in Myanmar with permission to conduct international banking can make transactions with US companies, bankers here said.

They said that the recent removal of four Myanmar banks from the US blacklist created the misunderstanding that only those four banks could conduct transactions with US businesses.

Cooperative Bank managing director Pe Myint said sanctions differed from the blacklist. “Sanctions are imposed on the country, while certain individuals are blacklisted. Our bank has not been blacklisted, but sanctions apply to all the banks in the country,” Pe Myint said. More…

U.S. gives financial nod to Myanmar Reply

by • Myanmar (Burma) News • Tags: , , , , , , , , , , , ,

U.S. to provide financial considerations for Myanmar

U.S. to provide financial considerations for Myanmar

Reposted from iStockAnalyst

WASHINGTON, Oct. 19 (UPI) — The U.S. government said it extended certain financial considerations to Myanmar in recognition for its ongoing political reforms. More…

Myanmar’s natural resources Reply

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Mining sector’s contribution to Myanmar’s GDP was US$ 2.3 billion in 2000 and hit US$ 56.2 billion in 2010

Mining sector’s contribution to Myanmar’s GDP was US$ 2.3 billion in 2000 and hit US$ 56.2 billion in 2010

Reposted from Energy Global

The levels of industrial growth expected in Myanmar could potentially benefit every layer of society promoting employment opportunities and economic development, but this would require the country to adopt holistic development policies in order to compete with the numerous other middle income Asian nations. More…

Myanmar gets its first investment bank Reply

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Alisher Ali - CEO and Co-Founder of Mandalay Capital

Alisher Ali – CEO and Co-Founder of Mandalay Capital

Reposted from Bloomberg
By Erika Kinetz

YANGON, Myanmar (AP) — Alisher Ali knew on the morning of his second day in Myanmar that the long-closed country was a risk worth taking. More…

India calls for immediate phasing out of sanctions against Myanmar Reply

by • Myanmar (Burma) News • Tags: , , , , , , , , , , , , ,

"We look forward to Myanmar's planned Chairmanship of ASEAN in 2014" - Ranjan Matthai (Foreign Secretary of India)

“We look forward to Myanmar’s planned Chairmanship of ASEAN in 2014″ – Ranjan Matthai (Foreign Secretary of India)

Reposted from The Economic Times

UNITED NATIONS: India has called for immediate phasing out of unilateral sanctions against Myanmar, emphasising that the international community should extend all possible support to Yangoon’s new civilian government to help accelerate economic development in the country that had faced economic isolation under years of military rule. More…

Blacklisted Myanmar tycoon seeks salvation in Singapore Reply

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Zaw Zaw - One of the largest business tycoons in Myanmar and managing director of Max Myanmar

Zaw Zaw – One of the largest business tycoons in Myanmar and managing director of Max Myanmar

Reposted from Reuters
By Jason Szep

(Reuters) – As Myanmar implements reforms and foreign investors jet in, most find precious few ways to make money. There is no stock market. A new foreign investment law is delayed. And the biggest local companies are entangled in U.S. and European sanctions. More…