Written question asked by Vincent Cable (Liberal Democrat) on Tuesday, 24 June 2008, in the House of Commons. It was due for an answer on Tuesday, 1 July 2008. It was answered by Meg Munn (Labour) on Tuesday, 1 July 2008 on behalf of the Foreign and Commonwealth Office.

Burma: Foreign Investment

Question: To ask the Secretary of State for Foreign and Commonwealth Affairs pursuant to the answer to the hon. Member for Mid-Norfolk of 26 February 2008, Official Report, column 1364W, on investment in Burma, what progress has been made in discussions between the UK and EU partners on restrictive measures against Burmese companies as agreed at the October 2007 General Affairs and External Relations Council; whether a full prohibition on new investment in enterprises in Burma engaged in the logging, timber and mining of metals and minerals industries is under consideration; and what assessment he has made of the effect of Cyclone Nargis on discussions on restrictive measures at EU level.

Answer: In November 2007 EU partners agreed a prohibition on new investment in enterprises engaged in logging, timber, mining of metals and minerals, precious or semi-precious stones as well as related technical and financial assistance. This came into force with the publication of EC Regulation 194/2008 on 10 March 2008.The EU General Affairs and External Relations Council (GAERC) conclusions agreed to consider further financial measures at the April GAERC in 2008. The European Commission is working on an options paper. A review of two annexes to the current common position, listing companies targeted by the EU measures, is due for completion in July.Cyclone Nargis struck Burma after the new common position was agreed. The financial and other measures set out in the common position target the regime's leaders and those who benefit from its policies, rather than the ordinary Burmese people. Any future financial measures would be designed to meet the same objective. The common position also restricts the scope and means of delivery of non-humanitarian aid or development programmes, but these restrictions do not apply to humanitarian aid—such as that provided in the wake of Cyclone Nargis.

Secondary information

Type: Written question
Reference: 478 c779-80W; 214421
Session: 2007-08
Related items: Burma: Sanctions
Tuesday, 26 February 2008
Written questions
House of Commons
Subjects: Sanctions Myanmar
Link: View this Written question on www.publications.parliament.uk