On Wednesday the United States confirmed that we were ready to turn some sanctions on Myanmar to recognize its fledgling democratic transition, including a ban on US companies investing in or offering financial services to the country. But according to US Secretary of State Hillary Clinton stressed the Obama administration wanted to move cautiously, saying that the resource-rich Southeast Asian country has a long way to go to shake off decades of military rule.

United States and Clinton

Clinton hailed as a dramatic demonstration of popular will Nobel Peace Prize laureate Aung San Suu Kyi’s gaining of a seat in the lower house in a parliamentary by-election on Sunday which yielded a landslide victory for her party. Clinton further said that we will recognize and grasp the progress that has taken place and continue the policy of engagement. This statement was delivered Clinton in a brief appearance before reporters three days after Suu Kyi’s party won 43 of 45 seats available in the by-election. The package Hillary unveiled on Wednesday reflected a modest first step toward lifting the complex web of US sanctions that have contributed to the country’s isolation for decades.

United States and Myanmar

The United States will seek to name an ambassador to Myanmar after an absence of two decades, to set up an office of the US. Hillary also said the United States was committed to beginning the process of a targeted easing of our ban on the export of US financial services and investment as part of a broader effort to help accelerate economic modernization and political reform. She provided no details.

According to US officials on condition of anonymity some of the areas that might be ripe for an easing of the investment ban were agriculture, tourism, telecommunications and banking but said these were simply possibilities and no decisions had been taken.