The Hindu Business Line : Trade ties with Myanmar in for boost

New Delhi, July 14 The Minister for Commerce of Myanmar, Brigadier General Tin Naing Thein, would pay a three-day visit to India beginning July 16 to carry forward the dialogue of bilateral cooperation and intensify economic engagement between the two countries.

Mr Thein, visiting India at the invitation of the Minister of State for Commerce, Mr Jairam Ramesh, would meet the Union Agriculture Minister, Mr Sharad Pawar, the Minister of Panchayati Raj and North Eastern States, Mr Mani Shankar Aiyar, and the Union Commerce & Industry Minister, Mr Kamal Nath, besides taking part in the India International Garment Fair that begins here in Gurgaon, Haryana on Wednesday, official sources told Business Line here.

Bilateral relations

When contacted, MrJairam Ramesh said that Myanmar Commerce Minister’s visit would help cementing bilateral relations since “we are interested in augmenting trade across Nagaland, Manipur and Mizoram and Myanmar”.

He said that currently there is only one border trade point in Moreh in Manipur for the entire 1600 km border stretch. India is keen on not only increasing more border trade centres but also connect them to trade at the border. A Joint Trade Commission of India and Myanmar is meeting in the second week of October at Mandalay in Myanmar.

Mr Ramesh said India and the Myanmar Government have also been in discussions for long-term procurement of pulses by India from Myanmar as such imports from India from various sources amount to $600 million a year. While domestic production of pulses hovers at 14 million tonnes, India imports two million tonnes.

There would also be discussion on letting Indian companies cultivate oil palm in Myanmar with ‘buy-back’ provisions as India is currently importing 3.4 million tonnes of palm oil from Indonesia and Malaysia.

Mr Ramesh said that he would be hosting a luncheon meeting in honour of the visiting Commerce Minister on July 16 here in which the Commerce and Industry Ministers of States of Arunachal Pradesh, Mizroam, Manipur and Nagaland would also take part in order to share ideas and improve border trade.

Jewellery trade team

He said that India has also invited a jewellery trade delegation from Myanmar to take part in India International Jewellery Show to be held in Mumbai from August 7 to 11. Myanmar is a major producer of ruby, sapphire, jade, emerald, topaz and pearls.

To a question about bilateral trade volume, the Minister admitted that “our exports to Myanmar are $150 million, while we import goods worth $600 million and the trade balance is against us. But what we are looking for is investment opportunities in Myanmar and during my two visits to Myanmar in May and June 2008, we have discussed India’s participation in hydel project in Chindwin river in Myanmar”.

More Stories on : Foreign Relations | Foreign Trade

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Trade ties with Myanmar in for boost

Motown Chakan Part II finally gets going

Mukesh Ambani meets PM

Ram Info signs up with Keonics