The Straits Times
www.straitstimes.com
Published on Sep 28, 2012
 

No quick exports boom for Myanmar despite US move

 
 

YANGON (AFP) - Myanmar's garment and agriculture industries could be set for a revival after a United States (US) decision to ease an imports ban, but observers warn against hopes of a sudden export boom for the impoverished country.

After decades of military rule that laid waste to Myanmar's economy, leaving many jobless and infrastructure in ruins, a wave of reform under a new regime is raising the prospect of a brighter future as the nation opens to the world.

The West has rolled back its embargoes against Myanmar in recognition of the huge strides towards democracy, stoking expectations of an economic renaissance in the resource-rich but long-neglected country.

USSecretary of State Hillary Clinton said on Wednesday that the US would relax its curbs on imports, in a move aimed at removing the final major obstacle to trade with the country.