Industry leaders enthused by reinstatement of US trade benefits for Myanmar
Businessmen, industry leaders and members of government have expressed enthusiasm after statements from President Barack Obama that the US would soon re-admit Burma to the Generalized System of Preferences. President Obama notified the US Congress on September 14 that it would reintroduce Myanmar to the preferential trade scheme in November, as part of further sanctions relief for Myanmar in recognition of recent democratic gains. The scheme would relieve the country’s exporters of US import duties in up to 5,000 product categories. The announcement was made during the visit of Myanmar’s State Counselor and Foreign Minister Daw Aung San Suu Kyi to Washington DC, where she met with President Obama and requested the removal of remaining sanctions on Myanmar.
