The Hindu Business Line : `India must use Myanmar to enter Asean market'

"Good economic engagement with Myanmar is necessary for India to make inroads into newer markets in Asia by pursuing a systematic and synergetic policy."

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Kolkata Feb. 16 Myanmar, being the only Asean country sharing its border with India, should be used by India as an entry point for pushing its products into Asean single market, according to U Soe Paing, Consul General of the Consulate General of Union of Myanmar.

"India can reach the Asean market transiting through Myanmar," Mr Paing said while addressing a seminar on `India-Myanmar Trade & Commerce: Challenges & Prospects' organised by the Indian Chamber of Commerce here.

Border Trade

In not-too-distant future, the deep-sea port being developed at Dawei in Myanmar waters and the highways being planned between India and the Asean countries through Bangladesh and Myanmar would be of immense help in this regard, he said.

The Myanmar-India bilateral trade, he said, was on the upswing. In 2005-06, the volume of trade was $482.9 million, comprising $374.52 million of Myanmar's exports to India and $108.36 million India's exports to that country.

During the same period, the border trade through two points namely, Tamu-Moreh and Rhi-Zowkhathar, amounted to $131.7 million, comprising $9.71 million of Myanmar's exports and $3.46 million Myanmar's imports.

Liberal laws

Foreign investments in Myanmar, he said, were welcome in heavy industry and energy sector and laws in this regard were very liberal allowing fully owned foreign companies to operate.

The other areas, which held out opportunities included agriculture, livestock and fishery, forestry, mining and construction and transport and communication including IT.

In tourism also, India-Myanmar relations could flourish as 90 per cent of Myanmar's population were Buddhists who were keen to visit holy Buddhist places in India.

Earlier, India was the destination of all Myanmarese seeking higher education but not any more.

Now they would go to Singapore and Australia. India, he felt, could market its diversified educational course for the benefit of the students of Myanmar.

Engines of Growth

Mr G.L. Goenka, President of India-Myanmar Chamber of Commerce, said medium and small enterprises were emerging as the engines of growth in Myanmar and to showcase the potential of these sectors, an SME Exhibition would be held in Yangon between November 25 and 28, 2007.

"India's Look East Policy should start with Myanmar," he said.

Mr Avijit Mazumdar, former President of Associated Chambers of Commerce & Industry, who has been successfully running business in Myanmar for over three decades now, narrated his experiences, emphasising that it was a wonderful country to do business provided the foreign businessmen strictly adhered to local laws and did not meddle into local politics.

Economic engagement

Mr Sanjay Budhia, Vice-President of Indian Chamber of Commerce, said that a good economic engagement with Myanmar was necessary for India to make inroads into newer markets in Asia by pursuing a systematic and synergetic policy.

For Myanmar, it also made sense to develop deep relations with India, which was its major trading partner.

The two countries therefore must identify their strengths and requirements to work towards mutual benefit, he added.