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 assures multifarious support to Myanmar, signs three agreements
The Dollar Business Bureau Expressing solidarity and unstinted support to its traditionally close neighbor, India on Wednesday signed three key agreements with Myanmar to enhance bilateral cooperation in banking, insurance and power sector. On Wednesday, Aung San Suu Kyi, State Counsellor of Myanmar met the Indian Prime Minister Narendra Modi, during which the two sides agreed to remove impediments to trade and commerce to fully exploit bilateral trade and investment potential. Pitching Myanmar as an attractive investment destination, the visiting side also urged the Indian companies to explore the country’s petrochemical and petroleum sector, marketing infrastructure sector and the setting up of LPG terminals. India also expressed support for Myanmar’s efforts in the economic and social development of the ...
Govt pushes for greater trade with Myanmar via land
The Dollar Business Bureau To boost trade with Myanmar, the government is pushing for more trade between the two countries through the shared land boundary, stated Commerce Secretary Rita Teaotia. “Greater trade through land border will positively affect the economy of the country’s North Eastern region, and also enhance people-to-people contact,” Teaotia said on Wednesday while speaking at the launch of a study on ‘Enhancing India-Myanmar Border Trade: Policy and Implementation Measures’ jointly brought out by Ministry of Commerce and RIS. The study provides an in-depth analysis for increasing trade between India and Myanmar through land borders. It also proposes policy measures to achieve the goal as well as provide a framework of relevant implementation measures. Teaotia said that India and Myanmar not only share borders but ...
India, Myanmar discussing procurement of pulses
The Dollar Business Bureau The Indian government is discussing long-term plans to procure pulses from Myanmar due to its shortage in the country and increased domestic prices. Union Commerce Minister Nirmala Sitharaman said that the governments of both the countries are in talks for the import of pulses from Myanmar. India needs to import pulses from several other countries because of its high domestic consumption. Depending on the estimated requirement of pulses this year, the government has begun discussions with the Myanmar government. India can import pulses through government agencies to have sufficient stock of pulses, the minister said during her visit to Myanmar. She said that the import of pulses from Myanmar would curb speculations on its shortage and put them all ...
Sitharaman to visit Myanmar with Indian CEOs
The Dollar Business Bureau In order to boost economic and trade ties between India and Myanmar, India’s Minister of Commerce and Industry, Nirmala Sitharaman, will lead a 25-member delegation of businessmen to Myanmar. "After the recent change of government in Myanmar, Nirmala Sitharaman will be the first Indian minister to visit the country. The Minister will head a high level delegation of CEOs from May 18th to 20th, 2016," according to an official statement. She will take part in the India-Myanmar Business Conclave to be held in Yangon. The conclave is being organised by New Delhi as part of its 'Act East' strategy. The 25-member delegation includes Arundhati Bhattacharya (State Bank of India), Madhu Kannan (Tata Sons), Naushad Forbes (President, CII), Rakesh Mittal (Bharti ...
WB, Odisha to explore biz opportunities in Myanmar
Source: PTI A 12-member industry delegation from West Bengal and Odisha will visit Myanmar to explore opportunities for bilateral trade and increase economic cooperation. The five-day visit starting from May 16 will include meetings with potential partners from Myanmar matching the profiles of the visiting delegates, the Bengal Chamber of Commerce and Industry (BCC&I) said in a statement. The delegation will meet the Union of Myanmar Federation of Chambers of Commerce and Industry, the Mandalay Region Chamber of Commerce and Industry, Indian Diaspora in Myanmar and Cabinet Ministers of the Republic of the Union of Myanmar. "India and Myanmar have enjoyed close geographical proximity, cultural ties and cordial relations through history that have facilitated long-standing trade relations across land and sea routes," BCC&I ...
