17 May 2012 21:27 [Source: ICIS news]
HOUSTON (ICIS)--Canadian potash could soon be on its way to Myanmar following the removal of economic sanctions by the Government of Canada against the nation formerly known as Burma, potash marketer Canpotex Limited said on Thursday.
"The relaxation of economic sanctions and export prohibitions following democratic reforms in Myanmar allows Canpotex to expand into this new market," stated Steve Dechka, president and chief executive officer of Canpotex.
Canada's Foreign Affairs Ministry announced on 15 May that most sanctions against Myanmar were lifted.
In a statement, Foreign Affairs Minister John Baird said the long-isolated nation has "changed course in a major way."
Canada's action came one day after the suspension by the European Union of most sanctions against the country.
"We look forward to providing potash that will contribute to higher crop yields and improved livelihoods of Myanmar's citizens," Dechka said.
Canpotex is the offshore marketing company owned by the three Saskatchewan potash producing companies: Agrium, Mosaic Canada Crop Nutrition and Potash Corporation of Saskatchewan.
Canpotex plans to support this new market through the introduction of its market development programs to Myanmar.
"Our programs, which have been operational since 1983, have helped farmers in many parts of the world receive the training and support they need to achieve improved crop yields through better agricultural and fertilizer management practices," Dechka said.
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