NEW DELHI, April 8 – The stagnating border trade between the north-eastern region and neighbouring Myanmar may take a new turn, with a Joint Task all set to engage in a consultative process to identify ways and means of increasing bilateral trade. The unexpected change in the scenario is the outcome of the mutually beneficial decision by the two neighbours to expand trade to approximately USD1 billion by 2006 that would facilitate a greater synergy between Myanmar and the north-eastern States.
The joint Task Force would identify appropriate channels to enhance the business-to-business interface. Recommendations for increasing official trade will be made on the basis of the Joint Task Force Report, which would be submitted by the Task Force to both governments. The Task Force agreed to look into credit related matters, which will help overcome obstacles in trade expansion. Investments, technology transfers from India to Myanmar and joint ventures will also constitute mechanisms to put the India-Myanmar cooperation on a higher plane. It is also to consider and advise on participation in multilateral forums, like ASEAN and BIMST EC.
Meanwhile, the Confederation of Indian Industry (CII) organised the first meeting of the India-Myanmar Joint Task Force in Kolkata Monday. A five-member delegation from Myanmar under the aegis of Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) attended the meeting. The country’s delegation was led by Win Myint, president of UMFCCI. The Indian side was led by Rajive Kaul, chairman, India Myanmar Joint Task Force.
R K Bhatia, Ambassador of India to Myanmar and Zeyar Oo, Consul General, Consulate General for Myanmar were special invitees. A CII release said that it was also assisting the Ministry of Commerce of Myanmar in organising a ‘Made in Myanmar’ exhibition in India that would showcase the country’s strength to Indian industry. Other initiatives include the promotion of tourism; establishing export processing zones in the border areas; and the setting up of an India-Myanmar CEOs Forum.