Statement by President Obama
Today, the United States is easing restrictions
to allow U.S. companies to responsibly do business in Burma. President
Thein Sein, Aung San Suu Kyi and the people of Burma continue to make significant
progress along the path to democracy, and the government has continued to make
important economic and political reforms. Easing sanctions is a strong signal
of our support for reform, and will provide immediate incentives for reformers
and significant benefits to the people of Burma.
Burma’s political and economic reforms remain
unfinished. The United States Government remains deeply concerned about the
lack of transparency in Burma’s investment environment and the military’s role
in the economy. As we indicated in May, the armed forces and Ministry of
Defense-owned entities will not be covered by these General Licenses. In
addition, U.S. companies will be asked to report on their activities in line
with international corporate governance standards. I have also signed a new
Executive Order that expands the Secretary of the Treasury’s existing sanctions
authorities to those who undermine the reform process, engage in human rights
abuses, contribute to ethnic conflict, or participate in military trade with
North Korea. This Order is a clear message to Burmese government and
military officials: those individuals who continue to engage in abusive,
corrupt, or destabilizing behavior going forward will not reap the rewards of
reform.
Americans for decades have stood with the
Burmese people in their struggle to realize the full promise of their
extraordinary country. Responsible investment will help facilitate broad-based
economic development, and help bring Burma out of isolation and in to the
international community. My Administration will continue to support the
Government of Burma in its efforts to work toward international standards for
economic growth, responsible governance, and human rights. And in all that we
do, we are committed to working with the people of Burma as they shape a future
of greater freedom and prosperity future, and continue their national
reconciliation and democratic transition.
The following news report provides more insight on the easing of the sanctions: Reuters
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