The bilateral trade between India and Myanmar is expected to more than
double by 2015. According to U Kyaw Swe Tint, Consul General of the
Republic of the Union of Myanmar, the trade is likely to grow from 1.28
billion U.S. dollars in 2010-11 to 3 billion U.S. dollars in 2014- 15.
Agriculture, health, education, mineral resources and pharmaceuticals
could be key areas of co-operation to enhance trade between the two
nations.
India and Myanmar have signed 12 MoUs for extending co- operation in
areas like border area development, in the field of defence and analysis
and the establishment of joint trade and investment fora among others.
India was one of the major export markets for the pulses and beans
produced in Myanmar. However, the export of pulses and beans to India
has decreased in recent years. There is a need for co-operation to shore
up the exports of pulses and beans to previous levels.
Despite being neighbors and sharing a common border, Myanmar and India have not been able to make optimal use of border trade.
Even while the bilateral trade stood at 1.28 billion U.S. dollars, the
border trade was just about 13 million U.S. dollars. Border trade volume
is just a little over one percent of total trade. We have to seek ways
and means to co-operate for the promotion of border trade.
Source: Xinhua
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