Western sanctions against Myanmar’s economy affect only private businesses not the government: Union Minister U Aung Naing Oo

keOJAWzY 5 1
MIFER Union Minister U Aung Naing Oo.

The impact of Western sanctions on Myanmar’s economy, the sanctions do not affect the government. Still, it only affects private businesses, said Union Minister for Investment and Foreign Economic Relations U Aung Naing Oo during a virtual interview with Xinhua News Agency on 21 April.
Being unable to use the US dollar and transfer money challenges Myanmar business people.
As a result of sanctions, there are factory closures which have resulted in the loss of job opportunities for Myanmar citizens.
Nothing happened to the government. The government has already made the necessary preparations.
He said the blockade had improved Myanmar’s economic cooperation with neighbouring countries.
Due to the recent political instability in Myanmar, there are IDPs in the neighbouring countries, and that causes difficulties in bilateral cooperation.
For example, due to the unrest in the Thai-Myanmar border area, he elaborated that the failure to use the Asian Highway fully and safely hampered the Thai-Myanmar exports/imports affecting neighbouring Thailand. —MNA

Share this post
Hot News
Hot News
Kyel Gyi to face Min Htet Aung in final of Shwe Aung Lan Traditional Boxing Tourney
Ease too much reliance on refrigeration facilities
Exports of aquaculture products top $113.5 mln as of 17 June
Dried chilli pepper price rallies to K7,500 per viss
Opinion seeks on new $ 8.9 billion Muse-Mandalay railway project
Meeting on expansion of using Baht/Kyat and Yuan/Kyat in border trade held
Seized narcotics worth over $ 642 million incinerated in major cities on int’l day against drug abuse and illicit trafficking
SAC Chairman Prime Minister inspects progress in building Maravijaya Buddha Image
An emphasis must be placed on shaping Nay Pyi Taw as Green and Clean City in a long run plan as well as green and clean cities in other regions and states with great farsightedness: Senior General
27-6-2022