Chamber White Paper Calls on US To Remove Myanmar Sanctions, Add It to GSP
The U.S. should work toward removing Burmese individuals and entities from the Specially Designated Nationals and Blocked Persons List (SDN List), add Myanmar to its Generalized System of Preferences (GSP) program, and launch dialogue on concluding a bilateral investment treaty…
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between the two countries, a white paper released by the U.S. Chamber of Commerce said (here). “The initial U.S. easing of sanctions has encouraged a small number of U.S. businesses to invest or consider investing in Myanmar after a prolonged absence,” the paper says. “In the last four years, trade with Myanmar has increased to its highest levels in decades, and U.S. companies, brands, and products have provided both jobs and training opportunities and their goods and services now line store shelves and are available throughout the country.” U.S. companies are worried about doing even legitimate business in the country because of existing sanctions, and Burmese citizens are frustrated with low U.S. commercial investment and limited export opportunities, attributing these situations to restrictive U.S. sanctions and tax and tariff policies, the paper says.