America and Myanmar to Collaborate on Resource Allocation ……………………………………………………………………………………… Yangon, June 17 The governments of America and Myanmar, who have restored friendly diplomatic relations, will work together on the allocation of resources in Myanmar, according to a statement from a spokesperson of the American government on June 15th. It is mentioned in the statement that the American government intends to improve the allocation of resources, which in turn will help prevent the violation of human rights, allow locals equal access to resources, and support conflict diminishing measures. If resources are managed and distributed systematically, it will help reduce problems arising from resource misallocation and policy mistakes, and bring about a beneficial system of resource allocation, remarks Dr Aung Ko Ko, an economic policy specialist. The American government will supply political and technology support to help Myanmar manage oil, natural gas, and metal mining industries, and the people, environment and financial affairs, creating attractive conditions for investors. “Some countries rich in resources live in poverty as a result of resource misallocation. As technological support will be embedded now, it will be more effective,” says Dr Aung Ko Ko. Myanmar is the country that exports the most natural gas and metals. Thus, if it utilizes a systematic method of resource allocation when undergoing reforms, the nation will achieve economic and domestic development. This program of collaboration was announced when Myanmar and America signed an agreement regarding energy during President Thein Sein’s visit to the US. The statement from the American government describes that the cooperation will help Myanmar implement the Extractive Industries Transparency Initiative (EITI). President Thein Sein even announced last year that Myanmar would institute the EITI in 2014. Like Myanmar, America has also announced its desire to implement the EITI. The American government is now offering support to the EITI, says U Min Zarni, a researcher from EITI. To be an EITI ‘candidate country’ requires that the five terms set by the organization be fulfilled. The requirements include the government officially announcing its desire to implement the EITI, the government promising to cooperate with private companies and the civil society, a senior government official taking over the role of an EITI expert, delegates from private companies and the civil society forming a multi-stakeholder group and drawing a work plan. U Min Zarni explains that Myanmar has already satisfied three of the five said conditions since last year and will become an EITI candidate country after fulfilling the remaining two terms.
Posted on: Tue, 18 Jun 2013 06:06:04 +0000
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