Myanmar hails EU lifting of sanctions Myanmar has hailed a European Union decision lifting political and economic sanctions against the former pariah state. Senior Myanmar diplomat Aung Lynn told reporters at an Association of Southeast Asian Nations conference in Brunei's capital, Bandar Seri Begawan, that the international community can expect more reforms. "This is a very good beginning," he told reporters on Tuesday, adding that Myanmar (formerly known as Burma) recognises the still enormous work ahead for the country, one of Southeast Asia's least-developed. Myanmar would continue to work with the EU, he said. The 27-nation bloc lifted all sanctions except those against the sale of arms and equipment that can be used for internal repression. The economic sanctions were suspended last April for one year after Myanmar's military rulers handed over power to a civilian government. The measures had targeted more than 800 companies and nearly 500 people, and included the suspension of some development aid. EU officials say the sanctions' permanent abolition will encourage firms and development organisations from the bloc - the world's largest economy - to strengthen ties with Myanmar. We know that much remains to be done, on human rights, on democracy, fighting poverty and achieving lasting peace. We don't underestimate the challenges," said Catherine Ashton, the EU's foreign policy chief. Aung Lynn said Myanmar was looking forward to assuming the chairmanship of ASEAN for the first time next year, and would show the world how serious his country is about reform. Myanmar declined the chairmanship in 2006 amid threats by Western governments to boycott ASEAN events due to Myanmar's then extremely poor human rights record.