Cambodia and Laos Removed from U.S. Trade Blacklist
Companies doing business in Laos and Cambodia will be eligible for loans from the U.S. government with the removal of Laos and Cambodia from a trade blacklist meant to prevent loans going to “Marxist-Leninist” governments by the U.S. export-Import Bank.
* President Obama stated : The Lao People’s Democratic Republic has ceased to be a Marxist-Leninist country.
* I hereby determine that the Kingdom of Cambodia has ceased to be a Marxist-Leninist country.
The U.S. has been increasingly making closer ties with the two countries for a few years. According to one official: “Given the commitment of Cambodia and Laos to open markets, the president has determined that this designation is no longer applicable.”
Only six countries remain on the U.S. blacklist, Iran, Burma, North Korea, Cuba, Sudan and Syria. The new designation must pass through a few formalities, but is expected to be ratified.
Cambodia and Laos Removed from U.S. Trade Blacklist
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