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India-Myanmar 5th Joint Trade Committee Meeting

The 5th India- Myanmar Joint Trade Committee (JTC) meeting was held in Nay Pyi Taw on 17th February, 2015. The meeting was co-Chaired by Minister of Commerce & Industry Smt. Nirmala Sitharaman and Myanmar Union Minister of Commerce U Win Myint. The 5th JTC was preceded by a meeting of senior officials of India and Myanmar on 16th February, 2015.

During the meeting, the two sides had intensive interaction and exchange of views to find ways and means to enhance the bilateral trade and investment ties. Both sides agreed to work together to remove the bottlenecks hampering the bilateral trade and investment such as lack of good connectivity, lack of banking arrangement both for regular and border trade. In this context, India offered to support Myanmar to develop infrastructure at the border trade points, upgrade trade training institutes in Yangon, and also provide training to Myanmar officials on WTO and international trade related issues besides supporting subsidized direct shipping links between India and Myanmar to promote bilateral trade.

The two Ministers reiterated their commitment towards strengthening mutually beneficial relationship especially in the field of promoting two-ways investment, infrastructure development particularly to promote border trade, connectivity, agriculture, energy, skill and entrepreneurial development, pharmaceutical and people-to-people contacts.

Both sides agreed to hold the next Joint Trade and Investment Forum in Chennai during which Myanmar would organize a roadshow showcasing investment opportunities in Myanmar especially in the special economic zones. The two Ministers also agreed to jointly inaugurate the land custom station in Zawkhatar, Mizoram shortly at a mutually convenient date.

Both sides noted the regular high level exchange of visits and interactions between India and Myanmar which has imparted further momentum to overall strengthening of bilateral relations and agreed to meet more often to ensure enhancement of bilateral trade and mutual cooperation. The Minister of Commerce and Industry Smt. Nirmala Sitharaman also called on the Vice-President-2 U Nyan Tun and Minister in Presidential Office U Soe Thane besides having detailed bilateral interaction with her counterpart.

The Minister of Commerce and Industry Smt. Nirmala Sitharaman invited Union Minister of Commerce to visit India for the next Joint Trade Committee meeting which he accepted in principle.

JPM

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