Burma, US Reach Agreement on Economic Cooperation

Burma and the United States have reached a new bilateral agreement for economic cooperation, according to a statement released by the US embassy in Rangoon on Thursday. The agreement, signed by Burma’s deputy minister of national planning and economic development, Set Aung, and US Ambassador Derek Mitchell, formalizes a pledge made by US President Obama during his visit to Burma in November 2012 to provide US $170 million in assistance to Burma over the next two years, the statement said. The agreement includes assistance from the US Agency for International Development (USAID). In April 2012, US Secretary of State Hillary Clinton announced the establishment of a new USAID mission in Burma, the first since 1962.

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