FTA Participates in Sustainability Impact Assessment on Myanmar (Burma)

05-04-2016

On 5 April 2016, FTA participated in the Sustainability Impact Assessment on the EU-Myanmar Investment Protection Agreement that is currently being negotiated. FTA used this opportunity to call for the future agreement to contain a solid sustainability chapter while at the same time ensuring better investment and legal protection of European businesses.

FTA’s position is that an Investment Agreement between the EU and Myanmar would offer more incentives for European businesses to invest in the country and contribute to its economic development, while a strong chapter on sustainability would allow the two sides to address any adverse issues that may arise during the implementation of the agreement. In this respect, previous mistakes made in other countries should be avoided, where rapid economic development was not followed by equal social or environmental improvements.

The European Commission is now finalising the Impact Assessment, and the final document should be made available in May 2016. FTA’s input was judged as highly beneficial to the process due to the contributions that FTA received from its members with operational experience in Myanmar.

 

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