Coca-Cola to begin business in Myanmar

AP News
Posted: Jun 14, 2012 2:56 PM
Coca-Cola to begin business in Myanmar

Coca-Cola Co. plans to open for business in Myanmar, following the U.S. decision to suspend investment sanctions to reward the military-dominated country for democratic reforms.

That will leave North Korea and Cuba as the only countries where the world's largest beverage company is not working.

Coca-Cola's charitable arm announced Thursday it is giving $3 million to support job programs for women in Myanmar.

The statement said Coca-Cola will begin business there for the first time in more than 60 years when the U.S. issues a general license allowing American companies to invest, which it said is imminent.

The U.S. announced last month it was suspending restrictions on U.S. investment and financial services.

Coca-Cola said it would adhere strictly to its global human and workplace rights policy and anti-bribery policies.