Obama urged to lift sanctions cautiously

The E.U. Parliament has suspended sanctions against

Burma for one year. Photo: europarl.europa.eu

Burma will remain a volatile area for business investment if the Obama Administration broadly relaxes U.S. sanctions, according to a dozen investors collectively managing more than US$ 115 billion in assets.
In a letter to President Obama, the investors cited concerns about the risk of derailing progress toward democracy and respect for human rights, stating that “without the rule of law or constitutional assurances that the judiciary will protect property or investments, Burma remains a volatile area for business investment.”
According to Kathy Mulvey, Director of the Conflict Risk Network, “Despite pressure from some elements of the business community, now is not the right time for a rush into Burma. Conflict continues to rage in Burma’s resource-rich ethnic national states. Investment is likely to exacerbate human rights abuses and undermine any progress that has been made toward democracy.” Last month, Conflict Risk Network released a briefing paper, Not Open for Business, warning investors that high risks remain.

The letter comes as a key Executive Order prohibiting U.S. investment and the provision of financial services is set to expire on May 20, 2012. The investor letter follows a similar initiative several weeks ago by human rights groups urging the Obama Administration to exercise caution regarding removal of sanctions on Burma.

“Before sanctions are rolled back, the U.S. government must have systems in place to identify individuals and entities that are responsible for human rights abuses, contribute to corruption, or are otherwise acting to obstruct political reform. Otherwise, the risks of investment are too great.” Mulvey said.

Investor groups signing on to the letter include Conflict Risk Network, International Brotherhood of Teamsters, Calvert Investments, Domini Social Investments, Boston Common Asset Management, Trillium Asset Management, Newground Social Investment, The Sustainability Group of Loring, Wolcott & Coolidge, Investors Against Genocide, Mercy Investment Services Inc., Lighthouse Hospice Inc., and Sisters of St. Francis of Philadelphia.

Conflict Risk Network – a project of United to End Genocide – is a network of institutional investors, financial service providers and related stakeholders calling upon corporate actors to fulfill their responsibility to respect human rights and to take steps that support peace and stability in areas affected by genocide and mass atrocities. CRN’s goal is to increase such behavior by corporate actors and thereby reduce conflict risk.

Source Mizzima News

Amnesty International's T. Kumar to Speak at the Islamic Society of North America's Convention

Amnesty International's T. Kumar to Speak at the Islamic Society of North America's Convention Advocacy Director T. Kumar to Speak on Rohingya Muslims in Myanmar (Burma) Contact: Carolyn Lang, clang@aiusa.org, 202-675-8759 /EINPresswire.com/ (Washington, D.C.) -- Amnesty International Advocacy Director T. Kumar will address the Islamic Society of North America's 49th Annual Convention "One Nation Under God: Striving for the Common Good," in regards to the minority community of Rohingya Muslims in Myanmar (Burma) on Saturday, September 1, at 11:30 am at the Washington DC Convention Center.

American Buddhists Promote 969 Movement With Website

Irrawaddy News: July 9, 2013 A group of American Buddhists has launched an English-language website promoting the 969 movement, in response to negative media surrounding the ultra-nationalist Buddhist campaign in Burma. The website aims to dispel “myths” about the movement, with a letter from nationalist monk Wirathu to a Time magazine reporter whose article about 969 was banned in Burma. “We’re not officially endorsed by Ven Wirathu at this time but will send a delegation to his monastery soon,” a spokesperson for the site said via email, adding that the group would create a nonprofit to coordinate “969 activities worldwide in response to religious oppression.”

Rohingya Activist Nominated for Human Rights Award

PHR congratulates Zaw Min Htut, a Burmese Rohingya activist, on his nomination for the 2011 US State Department Human Rights Defenders Award . Zaw Min Htut has been working for Rohingyas’ rights through the Burmese Rohingya Association of Japan since he fled Burma in 1998. Prior to that he was a student activist in Burma, and was detained for his participation in protests in 1996. In Japan, Zaw Min Htut has organized protests at the Burmese embassy and has written books on the history of Rohingya.

The Stateless Rohingya Blog

Search This Blog