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Coca-Cola Plans Re-entry in Burma After 60 Years of Absence

Cuba and North Korea remain to be the two countries where Coca-Cola has no
presence.

   By [88]Geetha Pillai: Subscribe to Geetha's [89]RSS feed

   June 15, 2012 9:20 AM GMT

   Soft-drink maker Coca-Cola plans to return to Burma after a long
   absence of 60 years, as the US government eased economic sanctions
   against the Buddhist nation.

   The Atlanta-based company is planning to make "significant investments"
   in the next three to five years and is waiting for the necessary
   approvals from the US government that allows companies to start
   investments in the Southeast Asian nation.

   "Coca-Cola's planned entry into Burma, following the suspension of
   sanctions, will be governed by its well-established global standards
   for corporate ethics including strict adherence to its global human and
   workplace rights policy, supplier guiding principles, code of business
   conduct, and anti-bribery policies," said Coca-Cola in a statement on
   Thursday.

   The beverages major is planning to import products from the
   neighbouring countries as a first step before starting its production
   facilities in Burma.

   With its latest entry into Burma, Cuba and North Korea are the other
   two nations where the company has no presence, said Coca-Cola in the
   statement.

   Other corporate majors who have announced their plans to foray into the
   minerals-rich nation are the London-based WPP, the world's biggest
   advertising company and India's major automaker, Tata Motors.  General
   Electric (GE) and Honda Motors also have plans to enter Burma,
   according to a report by Bloomberg.
   Follow us
   [90]Follow @IBTimesUK [91]Google Plus

   Meanwhile, Burma's pro-democracy leader and Nobel laureate Aung San Suu
   Kyi appealed for worker's rights during a speech at the International
   Labour Organisation in Geneva on Thursday and warned against economic
   development ignoring the rights of labourers.

    Suu Kyi was released from decades of detention in late 2010. She is
   due  to accept her 1991Nobel Peace Prize on Saturday in Oslo.

    The US has eased the economic sanctions on Burma followed by its
   recent transition to democracy from decades of military rule, which
   left its 64 million people in isolation and poverty.
   This article is copyrighted by IBTimes.co.uk, the business news leader

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     * [103](Photo: Reuters)<br>Bottles of Coca Cola are seen in a store
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