The European Union on Monday suspended its sanctions against Myanmar for a year following a wave of widely praised political reforms in the country, but will retain an embargo on arms sales, officials said.
European Union nations are set to reward Myanmar for its "remarkable" reforms by suspending most sanctions Monday, a move opening the way to a potential trade and investment bonanza for Europe.EU foreign ministers meeting in Luxembourg are set to approve a one-year suspension of sanctions against almost 500 individuals and more than 800 firms, but keep an arms embargo in place.
BRUSSELS — A day after the European Union agreed to lift its arms embargo for Syrian rebels, Russia confirmed Tuesday it was giving the Syrian government more high-powered missiles – raising the prospect of a new foreign-fed arms race in the Middle East.
Naypyidaw (Myanmar) (AFP) - US President Barack Obama told Myanmar's rulers its celebrated democratic reforms are backsliding, ahead of a regional summit Thursday designed to showcase the country's transition from army-led isolation.
Beijing (AFP) - Myanmar's opposition leader and democracy champion Aung San Suu Kyi is set to land in China on Wednesday afternoon for a debut visit, at a time of cooling relations between the once closely-bonded nations.
Yangon (AFP) - US President Barack Obama arrived in Yangon on Friday to hold talks with Myanmar's democracy champion Aung San Suu Kyi, as the nation turns towards next year's elections with uncertainty over the direction of reforms.
Colgate-Palmolive Company (CL) has acquired a Myanmar-based toothpaste manufacturer, called Laser Brands Toothpaste. According to The Wall Street Journal, the deal between the US consumer-goods giant and the toothpaste maker is worth $100 million. This deal marks one of the largest investments from a foreign company in Myanmar since the economic sanctions against the Southeast Asian country were relaxed in 2012. The removal of sanctions ended six decades of Myanmar’s segregation under military rule.
Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.The paragraphs below come courtesy of Mark Mobius, Chairman of the Templeton Emerging Markets Group.Myanmar, once known as Burma, has democracy standing on its doorstep.