As a result of Burma transitioning from a former military state to a democracy, neighbor nations are beginning to reopen trade relationships. This could indicate rising business opportunities as larger countries like Australia are lifting their sanctions and increasing foreign aid. Sky News Australia reports:
Lifting Australia’s sanctions on Burma will add momentum to the southeast Asian nation’s democracy movement, says Foreign Minister Bob Carr.
Senator Carr, who is on a three-day visit to the southeast Asian nation, says Burma had made great strides over the past year.
Lifting sanctions will give further support to the reforms underway.
He made the announcement after meeting with leading figures from government and parliament, including President Thein Sein and opposition leader Aung San Suu Kyi.
‘This is a time of great opportunity for the people of Myanmar (Burma), and countries like Australia should be doing what we can to add momentum to the process of democratisation,’ he said in a statement on Thursday.
‘The point has been reached where lifting sanctions is the best way to promote further progress.’
Australia and other nations have been gradually easing their sanctions against Burma as the country has allowed greater political and media freedoms during the past 18 months.
In addition to lifting sanctions, Australia is increasing development assistance, including through visitor exchange.
‘Promoting and, where necessary, having robust discussions about human rights and democracy in Myanmar will remain a central element of our engagement,’ Senator Carr said.
The lifting of remaining travel and financial sanctions will take place in the coming weeks.”
