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 Betul nuts, turmeric, ajma, grams,
cumin seeds etc.
