The US has announced the appointment of Derek Mitchell as the first ambassador to Burma in 22 years.
In a statement, President Obama hailed the beginning of a ‘new chapter’’ in US-Burmese relations.
The president told the US Congress the administration continues "to have concerns, including remaining political prisoners, ongoing conflict and serious human rights abuses in ethnic areas".
Secretary of State Hillary Clinton on Thursday announced the relaxing of some of the sanctions on investment and diplomatic relations, after a meeting with Burma's Foreign Minister Wunna Maung Lwin.
"Today we say to American businesses, invest in Burma, and do it responsibly."
"We will be keeping the relevant laws on the books as an insurance policy, but our goal and our commitment is to move as rapidly as we can to expand business and investment opportunities," she said at a joint press conference.
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