BY | November 17, 2012

Washington, (IANS) The US Friday eased decade-old import restrictions on Myanmar goods just days before President Barack Obama sets foot on the Southeast Asian nation.

The Treasury Department said the move was taken to support the ongoing reform efforts in the nation, encourage “further change” and offer new opportunities for businesses in both countries, Xinhua reported.

As a result, the US will open up to most products from Myanmar under a waiver and general license with the exception of jadeite and rubies mined or extracted from the country, and jewelry containing them.

US Secretary of State Hillary Clinton announced on Sep 26 that Washington will begin the process of easing import ban put in place since 2003, in response to the advances made in the country’s reform efforts over the past year.

She made the pledge in her meeting in New York with Myanmar president U Thein Sein who has initiated a series of reform since taking office in March 2011.

The reforms included releasing hundreds of political prisoners, cease-fire agreements with ethnic groups, and holding parliamentary by-elections in which Aung San Suu Kyi and her opposition party won a landslide victory.

Clinton travelled to Myanmar in December 2011, making her the first US secretary of state to visit the country in 56 years.

Washington restored diplomatic relations with Myanmar and ended sanctions on investment there in July. And Obama himself will travel there Monday, the first to do so by a sitting US president.

RELATED

Nairobi, Oct 31 (EFE) At least 30 people were killed Friday when a car bomb exploded in a crowded bus station in the northeastern Nigerian state of Gombe, the National Emergency Management Agency (NEMA) told media. The explosion occurred during the morning rush hour at the...

bokoharam

Another wave of yellow metal going down and down. Gold price tumbles in India crashing by as much as Rs 600 per 10 grams. New Delhi: Jewellery buyers have a reason to buy more gold even after the festive season has just gone as the yellow metal prices dropped by Rs.600 per 10...

gold-bars

New Delhi: Bharti Airtel's net profit for the second quarter (July-September) of the current fiscal soared 170 percent to Rs.1,383 crore helped by voice and data business growth, a company statement said here Thursday. This is the highest quarterly profit since March 2011. The...

airtel_1121787f

It is surprising to see Apple Pay being actually blocked by US retailers. Reports suggest that retailers are avoiding Apple Pay in favour of QR code-based system It was just a few days ago when Apple Pay that the company had unveiled was at the centre of attraction. It had...

iphone 6 plus

Immigration reform news don't have any cheerful message these days. Latino voters confused after being dumped by Obama The Latinos are unhappy over a few turn of events. What has hurt them the most is the stand taken by the new Administration on the immigration? With the...