Monday, February 25, 2013

US ‘dedicated’ to investing in Myanmar


Monday, 25 February 2013 17:04 Rosie Gogan-Keogh

The United States-Myanmar Trade and Investment Conference took place on February 25 at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), with the aim of encouraging bilateral trade between the two countries.

Jose Fernandez, US Assistant Secretary of State for Economic & Business Affairs, pictured speaking at the US-Myanmar Trade and Investment Relations forum at the UMFCCI office tower on Monday, February 25, 2013. (Photo: Hla Maung Shwe)

Speaking at the opening ceremony of the conference, Jose W. Fernandez, the US Assistant Secretary of State for Economic and Business Affairs, said that "The US government is dedicated to doing everything in its power to encourage and support social and corporate responsibility. We want US companies to invest here [Myanmar] in a social and responsible manner."

Fernandez gave an anecdote in his speech about a US internet provider that that had "misplaced sanctions" and said that he hoped to avoid any further confusion for US companies trying to invest in Myanmar.

Fernandez said that he hoped trade will soon be "normalized" with Myanmar as much as possible.

A Memorandum of Understanding was signed by both parties at the conference.

The conference was held as part of a visit by a delegation of 50 representatives from U.S. companies to Myanmar during which it was announced that four Myanmar banks had been taken off US sanctions lists.
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