Demetrios Marantis, acting U.S. trade representative, and Pwint San, Myanmar’s deputy commerce minister, have signed a trade and investment framework agreement, creating a platform for ongoing dialogue and cooperation on bilateral trade and investment issues.
As part of this dialogue, the two sides will collaborate to identify initiatives that support the ongoing reform program and promote inclusive development that benefits the people of Myanmar.
“The United States supports reforms that lay the foundation for a peaceful and prosperous future,” Marantis said. “Economic reforms and trade are mutually supportive. Stronger institutions, transparency and rule of law create stronger foundations for commercial transactions, trade and investment.”
The deal also recognizes labor rights as enumerated by the International Labor Organization and is intended to enforce each nation’s respective laws and regulations on worker rights. Under the TIFA, the U.S. will seek to work with the government in Naypyitaw, the capital of Myanmar, to further improve the protection of worker rights.