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 President Ambarish Dasgupta, who will lead the delegation, said.

"India has been a major trading partner of Myanmar and is its fifth largest trade partner. There is immense potential for bilateral trade, investment and other forms of economic cooperation with the country," Dasgupta said.

BCC&I director-general designate Subhodip Ghosh said that with the Centre's relaxation of rules on trade and investment for doing business with rapidly growing economy, the Chamber was trying to expand business relations with the neighbouring countries.

He said that India is the third largest export destination for Myanmar and its seventh largest source of imports. In November last year, Myanmar had its first democratic election in 25 years setting roads ahead for its economic growth.