LCS in Mizoram to boost India’s trade with Myanmar

Sai Nikesh D | The Dollar Business India and Myanmar are likely to start a formal border trade through North Eastern state of Mizoram. In this regard, the Indian Union Commerce Minister Nirmala Sitharaman and Myanmar's Commerce Minister, U Win Myint, were expected to jointly inaugurate a Land Customs Station (LCS) at Zokhawthar in Champhai district of eastern Mizoram, on March 25, to start India’s formal border trade with Myanmar. This move was expected in view of the discussions India and Myanmar had during the 5^th India-Myanmar Joint Trade Committee meeting held in Nay Pyi Taw on February 17, 2015. In the meeting that was co-chaired by the Union Commerce Ministers of India and Myanmar, both the sides agreed to work together to remove the bottlenecks affecting the bilateral trade and investment, such as lack of proper connectivity and banking system for both normal and border trade. In this regard, the Indian side had agreed to provide infrastructure support to Myanmar at the border trade points, besides supporting subsidized direct shipping links between India and Myanmar to promote bilateral trade. Both the sides had then agreed to inaugurate the LCS at Zokhawthar, to hold the next Joint Trade and Investment Forum (JT&IF) in Chennai. During the JT&IF, Myanmar is expected to organize a road show showcasing investment opportunities in Myanmar especially in the special economic zones, which is yet to happen. Meanwhile, according to reports, China is also planning to come up with a project linking Banshao on the India-Myanmar border with Myitkyina in Myanmar, to re-link it with the historic Stilwell Road in India. Speaking at the Indian Chamber of Commerce event, Lu Wenxiang, Standing Deputy Governor of China's Yunnan province, said that the implementation of the road connecting Myitkyina and Banshao is going to be carried out. Under this initiative, the famous Stilwell Road is expected to be re-linked up again, which will further become another international thoroughfare connecting China, Myanmar and India, added the official.    

 This article was published on March 19, 2015.