The recent move by the Obama administration to suspend unilateral sanctions on Burma (also known as Myanmar) led to a flurry of opinions, including the recommendation that the administration not remove sanctions that prevent U.S. companies from working with the state-owned Myanmar Oil and Gas Enterprise. At the center of this argument is the notion that Western governments and their firms should refrain from investing in the extractive sector until Burma adopts international standards for accountability.
On fiscal transparency, Burma has reached out to the Extractive Industry Transparency Initiative — which many U.S. energy companies participate in — to improve the state’s capacity to manage revenue from resource extraction.
Finally, the Obama administration’s requirement that companies report their business dealings with Burma is welcomed. U.S. companies have been voluntarily increasing the transparency in their reporting for years, demonstrating their commitment to corporate responsibility.
Krista Hendry, Washington
The writer is the executive director of the Fund for Peace.