Financial Daily from THE HINDU group of publications
Tuesday, Oct 26, 2004
Financial Daily from THE HINDU group of publications Tuesday, Oct 26, 2004 |
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Industry & Economy
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Foreign Trade India-Myanmar task force outlines steps to double trade Our Bureau
Mr Aung Thaung, Minister for Industry, Myanmar, being welcomed by Mr Kamal Nath, Minister for Commerce & Industry, at a seminar in the Capital on Monday. — Ramesh Sharma
New Delhi , Oct. 25 THE India-Myanmar Joint Task Force Report has said that bilateral trade could be doubled to $1 billion by 2006 by implementing a slew of measures outlined in the report. Releasing the task force report, the Union Commerce and Industry Minister, Mr Kamal Nath, said that the border trade between India and Myanmar had not achieved its full potential and that enhanced border trade was essential to step up the bilateral and economic cooperation. Mr Kamal Nath said that with a view to further accelerating border trade, the second point at Zowkhathar-Rhi, in addition to the Moreh-Tamu point was inaugurated a few months ago and stressed the need to speedily develop the required infrastructural facilities at this point so that the trade could take place at the earliest. Mr Aung Thaung, Myanmar Minister for Industry, was also present at the launch of the report, which has been prepared by the Confederation of Indian Industry and the United Myanmar Federation Chamber of Commerce and Industry. Mr Kamal Nath said that India has emerged as the largest export market for Myanmar accounting for nearly one-fourth of the latter's exports, besides becoming Myanmar's fourth largest trading partner.
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