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 ...
Traders cheer as barter trade ends at Myanmar border
Deepak Kumar | The Dollar Business A traders’ body on Saturday welcomed the Indian government’s move to stop the barter trade system at India-Myanmar border, saying that the shift towards normal trading system will enhance bilateral economic relationship. The Reserve Bank of India (RBI) on Thursday announced the closure of the existing barter trade system at the Indo-Myanmar border and implementation of normal trade through currency exchange from December 1, 2015. “Accordingly, all trade transactions with Myanmar, including those at the Indo-Myanmar border with effect from December 1, 2015 would be settled in any permitted currency in addition to the Asian Clearing Union mechanism,” RBI said in a notification. “People in Myanmar are already crippled with internal differences and their economic ...
