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U.S. Business Community Applauds Appointment of Ambassador, Encourages Continued Movement on Sanctions
Date: 5/17/2012
Written By: Jennifer Cummings, The Fratelli Group for NFTC, (202) 822-9491

Washington DC – The U.S. Chamber of Commerce, the US-ASEAN Business Council, and the National Foreign Trade Council today issued the following joint statement strongly endorsing the appointment of Derek Mitchell as Ambassador to Myanmar. The groups also endorsed the statement by the administration that the United States will suspend some of the economic sanctions it maintains against Myanmar.

“We applaud this announcement, which is a step forward in ending Myanmar's international isolation. It demonstrates that the United States stands with other like-minded countries, including Australia, Canada, and the EU in recognizing the significant political and economic reforms that Myanmar has undertaken, and in seeking to ensure that the reform process continues. We encourage Congress to move forward with this nomination quickly and look forward to working with Ambassador Mitchell as the administration moves forward on allowing the resumption of economic ties with Myanmar.

“We look forward to receiving clear guidelines from the administration on exactly what changes will be made to the sanctions regime. We welcome Secretary Clinton’s statement that American companies from all sectors will be able to work in Myanmar. A situation where American companies are allowed to invest in certain sectors while excluding others will not prevent those sectors from being developed in Myanmar; it will simply ensure that our competitors fill the void, as they are already doing, and that jobs which could be given to American workers will go elsewhere.

“Further, we welcome Senator McCain's recent call for American business to set the global standard for Corporate Social Responsibility in Myanmar. This is an area where American companies are leaders, and their CSR initiatives will benefit the people of Myanmar, as will their high standards of transparency and corporate governance. Myanmar's leadership has made it clear that it welcomes American investment, and in many ways sees it as preferable to that of some of our competitors for precisely these reasons.

“We encourage the administration to continue to open pathways for economic engagement. We look forward to clear guidance on how businesses interested in working in Myanmar should proceed.”

 
About the NFTC
Advancing Global Commerce for Nearly A Century- The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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