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Myanmar sanctions to end

   
  

Added At:  2012-04-19 10:31 PM

   Last Updated At: 2012-04-19 10:31 PM

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REUTERS

BRUSSELS: European Union governments are to suspend most sanctions against Myanmar next week, EU diplomats said today, in recognition of rapid political and economic reforms after decades of military dictatorship.

Envoys of EU governments reached a preliminary deal on the issue late on Wednesday and foreign ministers of EU states are expected to approve the move formally at a meeting in Luxembourg on April 23, diplomats said. The suspension of EU sanctions, which include a ban on investment and trade related to timber and mining, is likely to open doors to a flood of investment in the country which neighbours the world’s two biggest markets, China and India.

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