Highlights of India-Myanmar 5th Joint Trade Committee Meeting

The 5th India- Myanmar Joint Trade Committee (JTC) meeting was held in Nay Pyi Taw, Myanmar.

The JTC meeting was co-chaired by Minister of Commerce & Industry Nirmala Sitharaman and Myanmar Union Minister of Commerce U Win Myint.

Both sides had intensive interaction and exchanged views to find ways and means to enhance the bilateral trade and investment ties.

In 5th India- Myanmar JTC meeting, both nations agreed to

  • Remove the bottlenecks- Work together to remove the bottlenecks that hampers the bilateral trade and investment such as lack of good connectivity, banking arrangement both for regular and border trade. In order to remove bottlenecks, India has offered to support Myanmar to develop infrastructure at the border trade points, upgrade its trade training institutes in Yangon.
  • India’s assistance to Myanmar- India to provide training to Myanmar officials on WTO and international trade related issues and supporting the subsidized direct shipping link between India and Myanmar to promote bilateral trade.
  • Strengthen mutual relationship in various fields- Both nations will strengthen mutual relationship in the field of promoting two-ways investment, infrastructure development particularly to promote border trade, connectivity, agriculture, energy, skill and entrepreneurial development, pharmaceutical and people-to-people contacts.
  • The next Joint Trade and Investment Forum in Chennai during which Myanmar will organize a roadshow showcasing investment opportunities in Myanmar especially in the special economic zones.
  • In future, two Ministers will jointly inaugurate the land custom station in Zawkhatar, Mizoram.

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Categories: Business & Economy Current Affairs 2017

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