On 7 October 2016, President Barack Obama signed an executive order lifting most remaining economic sanctions on Myanmar. The move comes as the two states progressively normalise relations, though restrictions remain against doing business with Myanmar's military — the Tatmadaw — and its associated economic conglomerates and industries. Obama's decision was applauded by many in the US business community for allowing US companies to compete on an even playing field with foreign competitors eager to invest in the rapidly growing Southeast Asian market.
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