EU threatens to impose trade sanctions on Myanmar

MNA Business Desk: The European Union (EU) has threatened to impose trade sanctions on Myanmar if it fails to address the concerns of the international community.

“The EU stands ready to provide necessary support to Myanmar to address the concerns of the international community. Nevertheless, withdrawal of trade preferences is a clear possibility if other channels of cooperation have failed to reach results,” it said.

A monitoring mission of experts from the European Commission and the European External Action Service visited Myanmar from 28 to 31 October, reported news agency.

This follows deeply worrying developments highlighted in various United Nations reports, in particular as regards human rights violations in Rakhine, Kachin and Shan States and concerns around labour rights.

EU Commissioner for Trade Cecilia Malmstrom said, “We now expect Myanmar to address the severe shortcomings that have been highlighted during this monitoring mission.”

“If they do not act, Myanmar authorities are putting their country’s tariff-free access to the EU market in danger – a scheme which has proved to be vital for the economic and social development of the country, providing thousands of jobs to workers in sectors such as textiles, agriculture and fisheries.”