Myanmar’s Prospects for Post-Coup Foreign Trade & Investment
Following Monday’s military coup, life in Myanmar appears to be rapidly returning to normal. However, big questions remain over what happens next and especially the prospects for existing and future foreign investment in the country. We examine the possibilities.
What happened and why?
The military moved in because of an alleged ten million vote discrepancy in the November national elections and challenged this result. The Myanmar election commission basically told them to get lost – there is no procedure in the Constitution to allow a recount. That situation was inflamed by a statement published last week by the Diplomatic Missions of Australia; Canada; the Delegation of the EU and European Union; Denmark, Czech Republic, Finland, France, Germany, Italy, Netherlands, Spain, and Sweden; as well as Switzerland, the United Kingdom, the United States, Norway, and New Zealand which stated:
“We affirm our support for Myanmar’s democratic transition and efforts to promote peace, human rights, and development in the country. We look forward to the peaceful convening of the Parliament on February 1 and the election of the President and speakers. Once again, we congratulate the people of Myanmar on their historic participation in the country’s recent general election. We urge the military, and all other parties in the country, to adhere to democratic norms, and we oppose any attempt to alter the outcome of the elections or impede Myanmar’s democratic transition. We support all those who work toward greater democratic freedoms, lasting peace, and inclusive prosperity for the people of Myanmar.”
Chris Devonshire-Ellis
