Monday, October 8, 2012

Myanmar trade set for revival after import ban lifted

-Myanmar's garment and agriculture industries could be set for a revival after a US decision to ease an imports ban, but observers warn against hopes of a sudden export boom for the impoverished country.

-After decades of military rule that laid waste to Myanmar's economy, leaving many jobless and infrastructure in ruins, a wave of reform under a new regime is raising the prospect of a brighter future as the nation opens to the world.

-The West has rolled back its embargoes against Myanmar in recognition of the huge strides towards democracy, stoking expectations of an economic renaissance in the resource-rich but long-neglected country.

-United States Secretary of State Hillary Clinton said this week that the US would relax its curbs on imports, in a move aimed at removing the final major obstacle to trade with the country.

(Source www.myanmar-business.org)

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