Democratic icon Aung San Suu kyi and her party was pleased to know the step undertaken by the U.S. government to lift sanctions in Myanmar and demand a greater disclosure of government transactions which was required of the country. Last Wednesday Washington highlighted the signal for US companies to invest in Myanmar in the field of gas and oil, said news report from AFP.
On the other hand, Suu Kyi described the move of the US authorities as nothing important, but her call to international community to pressure the state-owned Myanmar Gas and Oil Enterprise (MOGE) which is known to have linked with the military junta to be transparent in their transactions and business deals. It is also important that the state –owned company must sign the code of conduct of the International Monetary Fund.
She even added that the decision of US government to ease sanctions will contribute greatly to the increasing growth of the economy in Myanmar.
With the statement issued by President Barack Obama, he sighted the reforms being undertaken by President Thein Sein, Aung San Suu Kyi and the cooperation of the people of Burma in their move towards progress and development and their call for reconciliation will surely bring the country to national recovery, the report said.
President Thein Sein also asked the Western Union and other international communities to ease all sanctions both economically and financially to make way for business and trade to boost in the country. He also vowed to work on a high standard of transparency on business deals and financial concern.
As a new rule, US firms has the right to enter into business transactions with MOGE provided it will inform the State Department within 60 days. It is also a requirement that all US establishments investing more than $500,000 must submit reports to the State Department every year to give details on worker’s rights, status of human rights and the environment, according to news reported from AFP.