US Lifted the Ban Imposed on Imports from Myanmar, before President Obama’s Visit to the Nati

The decade old ban on most of the imports from Myanmar in the third week of November was scrapped by the United States. The step of scrapping the bans on import of most of the products from Myanmar came ahead of the landmark visit of the U.S. President Barack Obama scheduled on 20 November 2012 to the long isolated nation. With this visit to Myanmar, Obama would turn-up to be the first sitting President of U.S. to visit the country.

The ban would still be in existence, on the import of Gems from the country as gems remained a cause for the long race of violence and corruption in m Myanmar.

The ban on imports from Myanmar was imposed in 2003 by the U.S. Congress and this scrapping of the ban by world’s largest economy may bring back a huge growth in the Garment industry of Myanmar, as U.S. at a point of time remained one of the largest buyers of cloths from Myanmar.

Before this step of U.S. nations like Canada, Australia and the European Union had already suspended virtually all types of sanctions from Myanmar. Japan has forgiven a 3.8 billion dollar debt waiver on the country.