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Obama eases sanctions on Myanmar

Obama had met the country's de facto leader Aung San Suu Kyi in September and had stated at the time that revoking sanctions would be 'the right thing to do to ensure that the people of Burma (Myanmar) see rewards for a new way of doing business.' Photograph: (Getty)

WION Washington, DC, United States Oct 07, 2016, 10.23 PM (IST)

US President Barack Obama on Friday eased sanctions on Myanmar by terminating an emergency order that deemed the policies of the southeast Asian country’s former military government a threat to US national security.

"I have determined that the situation that gave rise to the national emergency...has been significantly altered by Burma’s (Myanmar’s) substantial advances to promote democracy, including historic elections in November 2015," Obama said in a letter to congressional leaders announcing the decision, Reuters reported.

Under Obama’s new executive order preferential tariffs for Myanmar, which were suspended more than two decades ago amid human rights abuses by the Junta, will be reinstated.

Obama had met the country's de facto leader Aung San Suu Kyi in September and had stated at the time that revoking sanctions would be "the right thing to do to ensure that the people of Burma (Myanmar) see rewards for a new way of doing business."

The move aims at getting the rapidly transforming country out of decades of economic isolation.

 

 

(WION with inputs from agencies)

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