The European Union will lift all embargoes place on Burma, except for on weapons, in light of the "remarkable process of reform" the country has seen, reported Reuters on Thursday.
A document seen by the news agency reportedly states that the European Union is set "to lift all sanctions with the exception of the embargo on arms", adding,
"The EU is willing to open a new chapter in its relations with Myanmar, building a lasting partnership".
The move will allow EU companies to invest in the country, though to put pressure on the US to also take similar steps. Marae Ciantar, a Singapore-based lawyer at the international law firm Allens commented,
"The U.S. will no doubt carefully consider the lifting of sanctions by the EU and the rationale for that step in determining the next steps that the U.S. takes in relation to its Myanmar sanctions".
See the report from Reuters here.
