12:28 PM
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WASHINGTON, Oct. 11 (UPI) -- Advocacy
group EarthRights International called on the U.S. government to ensure
companies investing in Myanmar respect environmental and human rights.
The U.S. Treasury Department in September announced it repealed
sanctions on financial institutions in Myanmar, known formerly as Burma.
Washington, starting in June, began easing sanctions on the country in
response to political reforms that developed after general elections in
2010.
Officials from French energy company Total were in Myanmar in June to
discuss prospects in the energy sector. The company said that, as of
2007, Myanmar was producing around 180,000 barrels of oil equivalent per
day, with 90 percent of that represented by natural gas.
Human Rights Watch had said the White House should link rights issues
to oil and natural gas investments. The group said it appears
Washington "caved to industry pressure" by its decision to allow deals
with the state-owned oil Myanmar Oil and Gas Enterprise.
EarthRights International said it has "deep concerns" about any
investments in the country that don't come with non-military or similar
transparency guarantees.
The group said, in a statement, that it "strongly urges the
administration to incorporate internationally recognized best practices
to provide more meaningful disclosure and use this opportunity to set a
model for responsible investment in Burma."
Friday, October 12, 2012
Rights group wary of Myanmar investments
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