PRESS RELEASE

U.S. EMBASSY RANGOON

110 University Avenue, Kamayut Township, Rangoon, Burma

Remarks by Ambassador Derek J. Mitchell As prepared for delivery

Friday, July 20 Thank you all very much for coming today. Before I get to an announcement, I wanted to convey first my deep gratitude for the warm welcome I have received here from citizens and colleagues since arriving 10 days ago on July 11. It has been an eventful and perhaps historic 10 days, and I have to say Im already a bit tired! But there is so much work to do. I wanted to express my particular gratitude to President U Thein Sein and his government for moving so rapidly to allow me to present my credentials as U.S. Ambassador immediately upon my arrival. I know this is rather unprecedented and extraordinary, and I want to make sure they know of my and my governments appreciation for their flexibility and responsiveness. It has allowed me to get right to work this past week. As you have heard from press reports, Secretary Clinton and President Thein Sein met last Friday in Siem Reap. Secretary Clinton underscored U.S. support for the on-going reform efforts here, and expressed excitement for what lies ahead. The meeting between Secretary Clinton and President Thein Sein is a demonstration of the continued positive momentum in our bilateral relationship and increasing cooperation between our two countries. On July 11, the United States eased sanctions to allow American companies to do business in this country. We believe that responsible investment will serve the long-term economic interests of both our peoples. Here, we believe investment, done according to traditional U.S. corporate principles and values, can contribute to broad-based economic development, help create jobs, improve the welfare of the people of this country, and support continued economic and political reform and national reconciliation. A critical component of responsible investment, and of democracy more broadly, is transparency. The United States has required American companies doing business here to report on their activities in line with the highest standards of international corporate governance. In fact, this reporting requirement is unprecedented for anywhere else in the world our companies do business. We believe this requirement serves our mutual interest in demonstrating the unique quality of our companies around the world and their commitment to be partners in your reform process. We also hope the information will help empower civil society to take an active role in monitoring all new investment that flows into the country. Economic transparency is particularly critical in extractive industries, because of the amount of money involved, and because state-owned companies like Myanmar Oil and Gas Enterprises are entrusted with the management of this nations patrimony, its natural resources. To that end, we have special requirements for US companies involved with stateowned enterprises, including MOGE.

PRESS RELEASE
U.S. EMBASSY RANGOON
110 University Avenue, Kamayut Township, Rangoon, Burma

In addition to increasing our investment, we are also serious about increasing our development and humanitarian assistance. As announced in April, we are reopening our USAID mission and expanding our USAID program here. Two weeks ago, on July 5th, we announced $3 million in assistance to support efforts to deal with humanitarian needs in Rakhine and Kachin States, and disaster risk reduction projects across the country. Today, I can announce we are providing $3 million in food assistance to displaced people in Kachin and northern Shan States. Through USAID's Office of Food For Peace, we are donating this $3 million dollars to the World Food Program. With this contribution, WFP will purchase approximately 3,400 metric tons of rice, which will help feed 55,000 people for six months. WFP will distribute this rice to displaced persons in Kachin and northern Shan States, in government controlled areas as well as in areas not controlled by the government. As always, our core principle is to provide help where it is needed and to be inclusive in our assistance, providing support to the people of Burma whatever ethnic or religious group. Once stood up, our USAID mission will continue to look for ways to support both immediate needs and longer-term goals in the country, including initiatives to promote civil society and democratic development, health needs, and other efforts in partnership with all relevant actors in this diverse society. Thank you for listening. I can take a few questions.

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