GE signs Myanmar deals after US eases sanctions
- Associated Press
- July 14, 2012 - 7:36 AM
YANGON, Myanmar - General Electric has become the first American company to sign business deals in Myanmar since Washington eased key sanctions on the former pariah state.
GE signed agreements Saturday with two private hospitals in Myanmar's main city, Yangon, to sell sophisticated medical equipment.
The move came a day after U.S. Secretary of State Hillary Rodham Clinton met Myanmar President Thein Sein and declared the country open to American investment. The meeting in Cambodia was attended by some of the biggest U.S. corporations.
Western nations imposed economic and political sanctions on Myanmar's previous military regime in response to its repressive and undemocratic policies.
Thein Sein, who took power last year after a general election, has instituted reforms in an effort to have the sanctions eased and attract foreign aid and investment.
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