U.S. Department of the Treasury

WASHINGTON – The U.S. Department of the Treasury announced today that Deputy Secretary Neal S. Wolin will travel to Singapore and Burma on October 23-25, 2012. The Deputy Secretary will engage with senior government officials and a variety of civil society and business leaders in both countries on key issues of domestic and regional importance, including macroeconomic developments, financial regulatory reform, and financial sanctions.

On Tuesday, October 23, the Deputy Secretary will meet with Singapore’s top economic and finance officials and business leaders to review developments in the region’s economy and financial markets.  The Deputy Secretary will discuss mutual efforts to implement the international financial regulatory reform agenda.  He will also meet with Singapore-based representatives of American firms interested in doing business in Burma, to hear their assessment of the business climate and the state of economic policy reform in that country.

On Wednesday and Thursday, October 24-25, the Deputy Secretary will visit Rangoon and Naypyitaw, Burma, to meet with the country’s top political leaders, economic policymakers, and members of civil society. The Deputy Secretary’s trip comes on the heels of the Administration’s implementation of new legislation signed by President Obama that will provide the United States with flexibility to vote in support of worthwhile financial assistance programs for the country that will be carried out by international financial institutions such as the World Bank and Asian Development Bank. The Deputy Secretary will also explore ways in which the Treasury Department can provide technical assistance to help local authorities build capacity in areas such as revenue transparency and protecting against financial crimes.  The Deputy Secretary will also discuss ways that the country’s officials can make progress on their commitments to improve their Anti-Money Laundering/Countering the Financing of Terrorism controls in cooperation with the Financial Action Task Force (FATF). Increased cooperation with FATF is central to facilitating the continuing reintegration of the country’s financial system into global markets, consistent with United States policy on new investment and the export of financial services.

###