New Delhi, July 11: Aiming to further boost bilateral trade ties, India and Myanmar will soon ink a memorandum of understanding (MoU) for creation of a joint trade committee. The MoU, to be signed during the visit of commerce and industry minister Arun Jaitley to Myanmar beginning July 14, will pave the way for setting up of a trade committee which will meet at regular intervals to explore the possibilities of boosting bilateral trade, official sources said here.
Jaitley is scheduled to meet his Myanmarese counterpart and Myanmar's deputy prime minister during his three-day visit is also expected to look into the difficulties faced by Indian companies operating there due to discontinuation of import and export licences to foreign trading firms.
In April-September 2002, Myanmar's exports to India were to the tune of 194.22 million dollars while its imports stood at 59.91 million dollars.
India's total exports to Myanmar were at 39.26 million dollars as against imports worth 197.32 million dollars.
Their total trade which stood at about 328 million dollars in 1997-98 has witnessed a rise with balance of trade in favour of Myanmar. Bureau Report