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| US lifts decades-long trade sanctions against Myanmar | US lifts decades-long trade sanctions against Myanmar |
| (about 1 hour later) | |
| Long-standing trade sanctions against Myanmar are to be lifted, US President Barack Obama has said. | Long-standing trade sanctions against Myanmar are to be lifted, US President Barack Obama has said. |
| The news came as Myanmar's de facto leader, Aung San Suu Kyi, arrived in Washington on her first official visit. | The news came as Myanmar's de facto leader, Aung San Suu Kyi, arrived in Washington on her first official visit. |
| Myanmar's access to trade benefits for poorer nations had been suspended in 1989 over human rights abuses. | Myanmar's access to trade benefits for poorer nations had been suspended in 1989 over human rights abuses. |
| President Obama said the country should now be allowed to benefit from preferential tariffs as it emerges from decades of military rule. | President Obama said the country should now be allowed to benefit from preferential tariffs as it emerges from decades of military rule. |
| He confirmed the move in a letter to Congress on Wednesday, adding Myanmar to the Generalised System of Preferences - a list which exempts certain countries from high import taxes. | He confirmed the move in a letter to Congress on Wednesday, adding Myanmar to the Generalised System of Preferences - a list which exempts certain countries from high import taxes. |
| Though many companies will now enjoy lower tariffs, there are specific sanctions which are not affected by today's announcement. | |
| That includes a "blacklist" of at least 100 companies and individuals with links to the former military junta, as well as trade in jade and rubies. | |
| Aung San Suu Kyi asked for all such sanctions which affect Myanmar's economy to be lifted, the Associated Press reports. | |
| Ms Suu Kyi, who as opposition leader was kept under house arrest for 15 years, led her National League for Democracy party to victory in Myanmar's first openly contested election for decades in November 2015. | |
| She is barred from the role of president under the country's constitution - instead holding the title of state counsellor - but is widely seen as the country's leader in all but name. |