Indo-Myanmar joint trade committee soon

Imphal, January 21: India and Myanmar have decided to set up a Joint Trade Committee (JTC) between the two countries at the Ministerial level and the inaugural meeting of the JTC would take place very soon. This was indicated in a meeting between Mr U Win Aung, Foreign Minister of Myanmar and Shri Arun Shourie, Minister of Disinvestment and Commerce & Industry here today. The issues of bilateral trade, border trade and economic cooperation will be discussed in the inaugural meeting of the JTC for which Shri Shourie has been invited by Myanmar side. Shri Vinay Bansal, Additional Secretary, Ministry of Commerce & Industry was present in the meeting along with senior officials of the Ministry of External Affairs and Department of Industrial Policy & Promotion. During the meeting the Indian side raised the issue of border trade, which is on the decline in last few years and requested the visiting side to fulfill the commitment of opening up of another port which would help in raising the quantum of border trade. The Myanmar Minister said that his country would consider the issue sympathetically. Both the sides agreed to speed up the project of linking India's North East region to the South East Asia via Myanmar. Two Task Forces are currently working in this direction and the project would benefit both the countries immensely with the reduction of transportation cost. India's trade with Myanmar registered a healthy growth of 96.30% during 2001-02 amounting to US$ 434.51 million. The exports from India increased by 19.24% while imports to India increased by 119.19% during 2001-02. Major items of exports include Wheat flour, ani seeds, agarbatti including other scents, bleaching powder, automotive components etc whereas major import items include Betal nuts, turmeric, rajma, grams, cumin seeds etc.