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Obama to begin historic visit to Myanmar as bilateral relations improve (3)

By Feng Yingqiu (Xinhua)

08:22, November 19, 2012

She met with Clinton and made an address at the U.S. Institute of Peace in Washington, voicing her support of further easing U.S. economic sanctions on Myanmar.

While in the United States, U Thein Sein attended the 67th General Assembly of the United Nations in New York on Sept. 27, where he delivered his first ever speech as a president of Myanmar representing a UN member nation.

In October, U.S. Deputy Secretary of State William Burns visited Myanmar. The two countries vowed to boost partnership in advancing Myanmar's political and economic reforms.

Myanmar and the United States also held the first bilateral dialogue on human rights on the occasion of Burns' visit.

In late October, U.S. Deputy Secretary of Treasury Neal S. Wolin paid a two-day visit to Myanmar which the U.S. government said is a further demonstration of U.S. commitment to partner with Myanmar as it walks down the path of reform.

Wolin voiced U.S. assistance to develop Myanmar's financial sector and improve public financial management.

According to Myanmar official statistics, U.S. investment in Myanmar amounted to 243.49 million U.S. dollars in 15 projects, accounting for merely 0.6 percent of the total as of August 2012 since Myanmar opened to such investment in late 1988 and standing the 9th in position in Myanmar's foreign investment line-up.

The figures also show that bilateral trade between Myanmar and the United States reached 293.64 million U.S. dollars in the fiscal year 2011-12, of which Myanmar's export to the United States amounted to 29.57 million dollars while its import from U.S. stood at 264.07 million dollars.

In the latest development, days before Obama sets foot on Myanmar, the United States further eased import limits on Myanmar goods to support the ongoing reform efforts in the nation and offer new opportunities for businesses in both countries.

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