Australia has become the latest country to ease sanctions against Burma in recognition of efforts at democratic reforms.
Foreign Minister Bob Carr has announced the easing of travel and financial restrictions against around 260 Burmese nationals, including President Thein Sein.
''We're easing sanctions after talking to Aung San Suu Kyi and others in the opposition, after talking to the government itself, (and) after talking to other nations," Mr Carr told reporters in London, ahead of a meeting with British Foreign Secretary William Hague.
A joint press release by Mr Carr and the Minister for Trade and Competitiveness, Dr Craig Emerson said that of 392 individuals on the list for financial and travel restrictions, only 130 will remain, including serving military figures and individuals of human rights concern. The arms embargo will also remain in place.
The President and other reformists within the government are among the individuals removed from the list.
"I welcome the opportunities that normalised trade ties will present for the Burmese people and Australian companies," Dr Emerson said.
"Increased trade and investment will help support the reform process in Burma, as well as enhance the economic prospects of ordinary Burmese.”