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NEWS- India to Promote Trade Ties w
- Subject: NEWS- India to Promote Trade Ties w
- From: BurmaJapan@xxxxxxx
- Date: Thu, 06 Nov 1997 20:50:00
India to Promote Trade Ties with Myanmar
YANGON (Nov. 6) XINHUA - India expects to
promote trade ties with and investment in Myanmar
through a trade exhibition due to open here
tomorrow, Indian Ambassador to Myanmar Shyam
Saram told a press conference here today.
The week-long Indian Trade Exhibition, sponsored
by the Indian Trade Promotion Organization, will be
participated by two dozen prestigious Indian
companies, which will display a wide range of
products and technologies covering pharmacy,
machinery, textiles, cosmetics and food, he said.
It will be the second trade exhibition India has held
in Myanmar since the first one in February 1995.
A seminar associated with the exhibition will also
take place and panelists will explore new
opportunities for investment and trade after
Myanmar's entry into Association of Southeast
Asian Nations earlier this year and its proposed
entry into BIST-EC (Bangladesh, India, Sri Lanka
and Thailand-Economic Cooperation), he said.
India is one of Myanmar's five major trading
partners, with trade volume between them
amounting to about 240 million U.S. dollars in the
1995-96 fiscal year. Of the total, India's exports to
Myanmar were 35 million to 40 million dollars while
its imports from the country were valued at 200
The balance of trade between the two countries has
been traditionally in favor of Myanmar, he pointed
India mainly sells to Myanmar iron and steel
products, cement, chemicals, rubber products,
transport equipment, drugs, jute products and cotton
yarn while importing from it beans and pulses,
timber and timber products.
India formally entered into a border trade agreement
in April 1995 with Myanmar, one of its immediate
neighbors, and border trade activities are carried
out at points of Moreh (India) and Tamu (Myanmar).
According to the Indian ambassador, the border
trade between the two countries was recorded at
15 million to 20 million dollars since its inauguration.
Meanwhile, Indian Minister of State for External
Affairs Shri Saleem I Shervani is due to arrive here
later today for the inauguration of the exhibition.