COCA-Cola announced today that it would return to Burma after a gap
of more than six decades, leaving Cuba and North Korea as the only
countries without the iconic American fizzy drink.
The Coca-Cola Co. becomes the latest beneficiary of reforms in the long isolated Southeast Asian nation.
The company announced plans after the United States said it would ease restrictions on investment.
The
Atlanta-based company said it would initially ship Coke from
neighboring countries to Burma but, in line with general practice, would
find local partners.
It said it expected to make "significant investments" in Burma over the next three to five years.
"The
Coca-Cola Co. has always stood for optimism at times of change and
progress around the world," chairman and chief executive officer Muhtar
Kent said in a statement.
Coca-Cola said that it would abide by ethical standards, including respecting human rights and not paying bribes.
The
Coca-Cola Foundation, a charity affiliated with the company, said that
it would grant $US3 million ($2.99 million) to support job initiatives
that empower women in Burma.
Coca-Cola said that it has not done business in Burma for more than 60 years.
The military seized control of the country in 1962.
The junta ceded power to a nominal civilian, President Thein Sein, last year.
Despite
initial cynicism about him, Thein Sein has undertaken reforms including
freeing political prisoners, opening dialogue with ethnic minorities
and launching talks with democracy icon Aung San Suu Kyi, who was
elected to Parliament after years under house arrest.
President
Barack Obama's administration has also announced a loosening of
restrictions on financial services to Burma, allowing credit cards to
return.
But the United States, unlike
several other countries, has not removed restrictions on imports from
Burma, arguing that gems, timber and other goods provide a lucrative
business for anti-reform elements in the army.
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