Myanmar garments to get US boost

Aung Thein, vice president of the Myanmar Industries Association and managing director of Nibban Electronics, welcomed the move, saying it would boost exports to the US and strengthen local industries. Garment factories would reap the most from the decision, he said. “For the time being, some well-known brands like H&M have been making some of […]

US Set to Ease Sanctions for Asia World Port in Rangoon

The Obama administration looks set to ease some sanctions targeting Asia World, a firm widely believed to have built its initial fortune on the drug trade before becoming one of Burma’s largest conglomerates, after sustained lobbing from the US banking industry. According to reports from Bloomberg and AP, the US Treasury Department’s Office of Foreign […]

US banks call for waiver on Asia World port

The Clearing House Association – which is owned by many of the world’s largest commercial banks – and the Bankers Association of Finance and Trade (BAFT) wrote to the Office of Foreign Assets Control (OFAC) in July, after discovering that a significant amount of trade, including from the US, moves through AWPT. The port is […]