Myanmar and Indias bilateral trade has a larger untapped potential, Sitharaman
The Dollar Business Bureau The 6th India – Myanmar Joint Trade Committee (JTC) Meeting co-chaired by the Commerce minister Nirmala Sitharaman and Dr. Than Myint, Union Commerce Minister from Myanmar was held on June 27, 2017 at New Delhi. Myanmar is India’s gateway to South East Asia and ASEAN with which India is seeking greater economic integration through the ‘Act East’ Policy. The country shares a long land border of over 1600 kms with India as well as a maritime boundary in the Bay of Bengal. India’s trade with Myanmar grew by 6.01% from $2.05 bn in 2015 -16 to $2.18 bn in 2016-17. The total export achieved in 2016-17 was $1.11 bn, reflecting an annual growth of 3.79% while the ...
India, Bangladesh to sign MoU to expand 'Border Haats
The Dollar Business BureauIndia and Bangladesh plan to sign a new memorandum of understanding (MoU) by the end of this year or early next year to operate ‘Border Haat’. The two neighbours had signed a similar MoU in 2010 to set up Border Haat, but that agreement expired in 2013. However, four markets continue to operate, and six haats are expected to come up soon. The India-Bangladesh 'Border Haats' are envisaged to create a traditional system of selling and purchasing locally-produced goods through local markets in local currency or on a barter trade basis to support livelihood of people living in the remote or bordering areas. "Since October 2, 2013, the 'Border Haats' have been operational in good faith, as the three-year period ...
Dharmendra Pradhan restarts Asian Premium debate
The Dollar Business Bureau With Union Minister of State for Petroleum and Natural Gas Dharmendra Pradhan claiming that Asian counties like India should receive an Asian Dividend, instead of paying an Asian Premium, while making bulk purchase of crude oil, the question on whether there is indeed an ‘Asian Premium’ when it comes to crude oil is back in focus. “I will not hesitate to say that Asian Premium was historically never justified and more so not justifiable in the changed market scenario where Asian countries are the major buyers. Any measure that erodes the advantage of geography for Asian countries and promotes a policy of subsidising oil traffic to distant destinations is not, and cannot be, in the interests of ...
India-Bangladesh break barriers for trade across borders
The Dollar Business Bureau Smt. Nirmala Sitharaman, MoS for Commerce & Industry (IC), along with CM of Tripura, Shri Manik Sarkar and Mr. Tofail Ahmed, Commerce Minister of Bangladesh, at the inauguration of the Border Haat, in Srinagar, Tripura on January 13, 2015. The border haat was the third on the India-Bangladesh border. DGFT on June 4, 2015, notified the opening of the fourth border haat on the Indo-Bangladesh border at Kamalasagar (Tripura), which will be jointly inaugurated by India's PM Narendra Modi and Bangladesh's Premier Sheikh Hasina, expectedly on June 6, 2015, through video conferencing from Dhaka. Come June 6 and Tripura’s Kamalasagar would be bustling with trade activities, thanks to the new ‘border haat’ (border market) that will be ...
