Burma has undergone serious political reform. The by-elections on April 1 saw the overwhelming victory of Aung San Suu Kyi's party, the National League for Democracy. Political changes will make Burma more accessible for outsiders. Under such conditions, the country is likely to become more integrated into the Association of Southeast Asian Nations and the broader Asia-Pacific region.
The process of opening up will make Burma's foreign policy more predictable, and its decision-making less constrained. Meanwhile, it requires Burma to adhere to regional norms and practices, particularly in performing as a responsible member of Asean. This will alleviate political and investment risks as more countries rethink their stance on trade and relations with Burma.
Already, Burma's former nemeses have restarted their dialogue with the regime. The European Union announced this week it was suspending most of its sanctions on the country. The US has also adjusted its position and is lifting some financial restrictions and its travel restrictions on Burmese diplomats.
It is clear that the Burmese leaders recognise the necessity of 'diversifying' their foreign policy choices away from China. Such a diversification is becoming a prominent characteristic of Burma's strategy on interstate relations. In reorienting its policy, Burma has re-emerged as an active player in international politics, while seeking more friends and partners to minimise the Chinese influence on its regime.
China is a rising power; so is India. The two have competed fiercely in maintaining strong footholds in Burma. Meanwhile, Burma has not hesitated to take advantage of their competition to ensure a greater degree of autonomy in the conduct of foreign policy.
Asean, too, has responded well to Burma's newfound confidence. Last year, Burma was awarded Asean's chairmanship for 2014. Burma voluntarily gave up its rotating Asean chair for 2006 following widespread objections from the international community because of the country's poor human rights record.