Myanmar seeks partnership with Italy, Terzi says 'Burma can be fundamental in Southeast Asia'

(ANSA) - Naypyidaw, April 25 - The European Union's decision to suspend nearly all of its punitive sanctions against Myanmar has opened up new economic opportunities for Italy and Europe, Italian Foreign Minister Giulio Terzi said Wednesday. "Myanmar can become a fundamental partner in Southeast Asia," said Terzi after meeting with Thein Sein, the president of Myanmar, also known as Burma. The foreign minister said that suspending sanctions was producing "very interesting prospects regarding economic relations, not merely commercial but in terms of new entrepreneurial partnerships as well". Suspending, not lifting, the sanctions also unlocks financial aid to the country but does not lift an arms embargo. Europe's stance on Myanmar has softened recently as the once oppressive military-backed regime has responded to international pressure to support human rights and allow more open elections, which saw Nobel Peace Prize laureate Aung San Suu Kyi and 42 other members of her party join the parliament on April 1.EU economic sanctions, which will be suspended this week, have restricted hundreds of companies from doing business and hundreds of people from travelling.