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US, Myanmar sign trade agreement

Published on May 21, 2013 11:58 PM
US President Barack Obama shakes hands with Myanmar's President Thein Sein at the end of their meeting in the Oval Office of the White House in Washington, Monday, May 20, 2013. Thein Sein is the first Myanmar president to be welcomed to the White House in almost 47 years. -- PHOTO:AP

WASHINGTON (AFP) - The United States and Myanmar struck a trade agreement on Tuesday as the former pariah state undertakes economic reforms and seeks greater US investment.

The Trade and Investment Framework Agreement is aimed at promoting bilateral dialogue and cooperation on trade and investment issues, the US Trade Representative (USTR) said in a statement.

"As part of this dialogue, the two sides will work together to identify initiatives that support the ongoing reform programme and promote inclusive development that benefits the people of Burma, including the poorest segments of its population," the trade office said, using the former name of Myanmar.

The trade pact was signed by Acting US Trade Representative Demetrios Marantis and Myanmar's Deputy commerce Minister Pwint San.

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