Myanmar and the United States reached a new bilateral agreement for economic cooperation yesterday, said a press release from the U.S. Embassy in Yangon.
The agreement was signed by Sett Aung,
Deputy Minister of National Planning and Economic Development and U.S.
Ambassador Derek Mitchell. It formalises President Obama's November 2012
pledge to provide US$170 million in assistance to Myanmar over the next
two years, the release said.
“We saw development in Myanmar’s
democratic reform two year ago. The reform plans can create not only
better opportunities but also new challenges. The agreement is a
commitment by both countries to continue to support Myanmar's democratic
reform which was said to be in steady progress,” the U.S Ambassador
said in the press release.
The bilateral agreement details the
guidance for cooperative support between the two governments. This
includes the provision of aid and development assistance from the U.S.
Agency for International Development (USAID).
The first Myanmar-U.S. Economic
Cooperation Agreement was signed in September 1950, under which USAID
and the Myanmar government worked together to provide a range of
assistance including training, technical services, grants and
agricultural commodities until 1962 when USAID was closed.
However, USAID continued to provide
limited assistance until 1989. Starting in 1998, USAID resumed targeted
health program and in 2008 it supported the humanitarian response
following cyclone Nargis.
source: Eleven Myanmar
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