A Bill Gates trip to Myanmar signals improved relations between the U.S. and the Asian nation (PSBJ photos/Anthony Bolante)

Bill Gates and other corporate titans plan to visit Myanmar soon as the Asian country embarks on reforms to strengthen relations with the West.

The Microsoft co-founder and other corporate leaders plan to meet with the country's president, visit tourist spots and spend time with local business leaders, according to a Reuters reports.

Myanmar, formerly known as Burma, is located between China and India and has been the target of economic sanctions by the West because of years of brutal authoritarian rule. But new leaders of the resource-rich country are now reaching out to the West.

The plan to have Gates visit Myanmar comes a month after Secretary of State Hillary Rodham Clinton made her historic visit to Myanmar, the first U.S. secretary of state to visit the nation in a half century. The meeting was a significant ice breaker between the U.S. and Myanmar. The U.S. agreed to discuss upgrading diplomatic relations, and Myanmar pledged to make reforms.

The visit was seen as a boost to American diplomacy in South East Asia.

The Clinton trip also has sparked interest from business executives form China, Japan and elsewhere who have flocked to Yangon in recent weeks to scope out investment opportunities. Reuters described Myanmar as a resource-rich country of 60 million people that was “one of the last frontier markets in Asia.”