India welcomes role played by Myanmar in South-East Asia: President

Welcoming the role that Myanmar is playing in the South-East Asian region, President Pranab Mukherjee has said India intends to enhance cooperation with that country, while noting that the ties between them have seen accelerated growth over the years.

PTI| Updated: Jan 22, 2015, 21:59 PM IST

New Delhi: Welcoming the role that Myanmar is playing in the South-East Asian region, President Pranab Mukherjee has said India intends to enhance cooperation with that country, while noting that the ties between them have seen accelerated growth over the years.

Interacting with Myanmar Vice President Sai Mauk Kham, who called on Mukherjee at Rashtrapati Bhavan yesterday, the President said India attaches importance to its relations with Myanmar.

He said India has always believed that its development cannot be complete and sustainable unless it builds productive partnerships with its immediate neighbours, according to Press Secretary to the President, Venu Rajamony.

"India is committed to extending support of USD 5 million annually for five years (to Myanmar) under the MoU on Border Area Development. It has already released a sum of USD 4.5 million to Myanmar," Mukherjee said, adding that efforts are being made to expedite completion of all bilateral developmental projects, including Kaladan Project and connectivity projects.

The President said bilateral trade is growing and India is today Myanmar's fourth largest trading partner with the balance of trade greatly in the favour of that country.

"Yet, this trade is far below potential and does not reflect the closeness of ties. Indian companies are keen to bring their expertise and resources to Myanmar in promising sectors such as energy, power, construction, banking, insurance," he said.