The European Chamber of Commerce in Myanmar – EuroCham Myanmar – serves as the voice of European business in Myanmar. Its main mission is to advocate member interests with organisations in Myanmar, the ASEAN region and the EU. EuroCham Myanmar, funded by the European Union, was formally launched in Yangon in December 2014. The creation of a European Chamber of Commerce in Myanmar reinforces the mutually beneficial relationship between the EU and the Republic of the Union of Myanmar. The European Union was in fact one of the first actors to respond to the country’s political opening, suspending in April 2012 its restrictive measures except for the arms embargo. This was followed by the full lifting of sanctions in April 2013. In July 2013, Myanmar was reinstated as a beneficiary of the “Everything But Arms” initiative under the Generalised Scheme of Preferences (GSP). This allows companies to enjoy duty-free and quota-free access to the European single market with over 500 million consumers.