NAYPYITAW, Myanmar - A further lifting of US sanctions on Myanmar, which could come during a visit by officials to Washington this week, would be crucial to opening its long-isolated economy, a senior Myanmar government official said.

Foreign Minister Wunna Maung Lwin meets US officials on Thursday, stoking expectation the United States might announce a further lifting or suspension of sanctions, including investment restrictions, on the country that is also known as Burma.

It is the first official visit by a Myanmar minister to the United States in decades.

"The sanctions are a big problem," Tint Thwin, deputy director general in Myanmar's Commerce Ministry, told Reuters. "If they are lifted there would be an immediate impact."

"The US government sanctions bar bank transactions in US dollars. That is a major problem for us. If they lift the sanctions, we can easily transfer money, so our private sector can grow, invest and do business and immediately increase our prospects."