BEIJING, May 18 (Xinhuanet/GNA) – The U.S. is set to lift sanctions barring investment in Myanmar. Secretary of State Hillary Clinton made the announcement at a joint appearance with Myanmar Foreign Minister Wunna Maung Lwin.

 

However, she warned that the relevant laws would remain in place as “an insurance policy.”

 

Clinton said the United States would issue a general license to permit US investment. But she stressed that the laws underpinning US sanctions on Myanmar and embargo would remain as Washington seeks to keep its leverage and push the reclusive country’s government further on democratic reforms.

 

Also on Thursday, US President Barack Obama nominated Derek Mitchell as its first ambassador to Myanmar in 22 years, following the country’s historic election in April.

GNA

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