Friday, October 26, 2012

High US Treasury official meets with Thein Sein

Friday, 26 October 2012 14:53 Mizzima News

Burma’s President Thein Sein and visiting US Deputy Secretary of the US Department of Treasury Neal S. Wolin met in Naypyitaw on Thursday to discuss Central Bank of Myanmar issues, said the President 's Office.

President Thein Sein received a delegation led by United States Deputy Secretary of Treasury Neal Steven Wolin at the Presidential Palace on Thursday, Oct. 25, 2012. Photo: President's office

The discussion focused on Burma’s economic reforms, monetary-related expertise, assistance to be provided in line with international rules and regulations, and the removal of all remaining economic sanctions by the US, said a statement.

Wolin's two-day trip came after President Obama granted financial assistance programs for the country that will be carried out by international financial institutions such as the World Bank and Asian Development Bank.

Wolin will also meet other senior government leaders, business leaders, and members of civil society to explore ways in which the Treasury Department can extend technical assistance to help the Burma build capacity in areas such as revenue transparency and protecting against financial crimes. Ways to improve anti-money laundering and counter financing of terrorism controls will be discussed.

In an earlier official visit to Naypyitaw last week by US Deputy Secretary of State William Burns, officials also focused on political and economic reforms.

Washington has eased sanctions on Burma step by step in response to political reforms in the country and in its latest move, President Obama took another step in normalizing commercial relationship between the two countries by relaxing US restriction on importing Burmese products and goods into the US.

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