U.S. Secretary of State Hillary Clinton said the U.S. government was easing restrictions on goods imported from Myanmar in recognition of political reforms.
The U.S. Treasury Department announced Wednesday it repealed sanctions placed on financial institutions in Myanmar, known formerly as Burma.
Last week, the department announced it was lifting sanctions on Myanmar's President Thein Sein and Lower House of Parliament Speaker Thura Shwe Mann.
Clinton met with Myanmar's leaders on the sidelines of the U.N. General Assembly to express support for political reforms that started with general elections in 2010.
"We will begin the process of easing restrictions on imports of Burmese goods into the United States," she said during a news conference with Thein Sein, a former general.
Nobel Peace Prize laureate and former political prisoner Aung San Suu Kyi was honored by U.S. officials last week for her efforts to encourage democracy in Myanmar. She serves as a member of the country's Parliament following by-elections early this year.
Thein Sein, speaking through an interpreter, said support from a "champion of democracy like the United States" encouraged his country to continue on a path toward transparent governance.