Coke to sell drinks in Burma for first time in 60 years
Atlanta, Ga., United States (4E) – For the first time in 60 years, the Coca-Cola Co. will start selling beverages in Burma, following the United States government’s decision to suspend investment sanctions on the country for its democratic reforms.
The Atlanta-based company reported Thursday in a press release that is will start doing business in the country as soon as the U.S. government issues a license allowing American companies to make such investments.
In May, the U.S. announced that it was suspending restrictions on American investments in Burma, which is working toward democracy. Burma, also known as Myanmar, was led by an oppressive military junta until just last year.
Coke, the world’s largest soft drink maker, said its products will at first be imported from neighboring countries as it works to establish local operations in Burma.
The company noted it has a history of being the first to enter or among the first re-enter markets.
As part of its foray into Burma, Coca Cola will donate $3 million to support job creation in the country.
Coca-Cola presently does not conduct business in three countries. Burma is one. The other two are Cuba and North Korea.