Now, EU chief Barroso offers new 'development aid' to Burma

Big News Network (ANI) Sunday 4th November, 2012

After the World Bank gave millions of dollars in aid to Burma, European Commission chief Jose Manuel Barroso has now offered the country more than 100 million dollars in development aid as he met President Thein Sein.

The two men met in the new capital, Nay Pyi Taw, and discussed steps to boost trade following decades of sanctions.

Barroso also held talks with opposition leader Aung San Suu Kyi.

According to the BBC, the president of the European Commission is the latest in a series of Western officials to visit Burma since the military-backed government began reforms last year.

The government has published details of a new foreign investment law, which is aimed at attracting overseas companies.

Over the past decade, trade links and aid between the EU and Burma have been a fraction of those with other Asian countries.

EU member states had imposed tough sanctions on the military because of its repressive rule.

The EU is also believed to be offering Burma the same trade privileges as other low-income countries get.

It will also fund a new 'peace centre' to help Burma resolve the long-running conflicts between central government and ethnic minorities. (ANI)