Norway to lift sanctions against Myanmar

January 14, 2012 | Business | Written by

Oslo, Jan 15: Norway has decided to lift trade and investment sanctions it had imposed on Myanmar, Norwegian media reported Saturday.

Norway will abolish the policy which restricts private Norwegian companies to do business with and invest in Myanmar, Xinhua quoted TV channel NRK citing Norwegian Foreign Minister Jonas Gahr Stoere.

But Norway will continue to follow the European Union (EU) sanctions against Myanmar, it added.

Norway took the decision following the release of hundreds of prisoners in Myanmar Friday.

“The country needs investment and trade to create employment, development and reduce poverty,” said the foreign minister, who will visit Myanmar soon.

IANS