April 24, 2012
The New York Times has reported that the European Union (EU) has decided to suspend the majority of its punitive sanctions against Myanmar on Monday in response to the country’s recent financial and political reforms. In Luxemburg Michael Link, Germany’s deputy foreign minister was keen to point out that the sanctions were being suspended, not fully lifted. The EU is also keeping its arms embargo in place.
Meanwhile, Daw Aung San Suu Kyi and 42 members of the National League for Democracy (NLD) that were recently elected to parliament as a result of the 1 April by-elections refrained from attending their first day in Parliament. Members of parliament are required to take an oath to defend the constitution, a point of contentious for NLD members that ran on the campaign promise to amend the constitution. Party representatives have suggested implementing a modified oath that states members will “respect” the constitution, not “safeguard” it.
In an interview with the Associated Press in Japan, Myanmar President Thein Sein suggested an amendment to the law would be acceptable “if it serves the public’s interest.”
John Conway Boyd is an Investment Analyst at Leopard Capital
Photo Credit: The New York Times