News Feed

Australia & EU lift some sanctions against Myanmar

Posted on : 15 May, 2012

 

Australia has made a move to lift sanctions against Myanmar’s President, as well as over 200 civilians who were under travel and financial bans EU may also formally announce next week, that while sanctions may be suspended for 6 months to 1 year, it may not be lifted altogether.  While Australia’s ban on defence exports remains unchanged, and Canberra does not impose general trade sanctions, suspension of EU sanctions is likely to bring in investments to the country, largely because it neighbours China and India, the world’s two biggest markets.

 

This decision came after a joint call to lift the sanctions against Myanmar was issued by British Prime Minister David Cameron and Myanmar opposition leader Aung San Suu Kyi. The British Prime Minister also said, "We want to see the further release of political prisoners, we want to see the resolution of ethnic conflicts, we want the democratization process to continue."

 

With travel ban lifted coupled with government reforms plus emerging opportunities in the mining sector, the time is apt for the Myanmar Mining Summit to be held in Yangon on 11-12 July. The first of its kind meeting of industry officials and global investment community will review the latest in Myanmar’s mines and mining jurisdictions, investment opportunities, the processes involved in securing mining exploration licenses/ventures and many more

 

Details of the event are currently being finalized and will be available shortly. Pre-Register to reserve seats now! For queries, email huiyan@cmtsp.com.sg

 

Summaries extracted from Reuters and Channel News Asia.