India, Myanmar to set up joint trade committee

Tuesday, 08 July 2003, 19:30 IST
Printer Print Email Email
NEW DELHI: India and Myanmar will sign a memorandum of understanding (MoU) next week to set up a joint trade committee (JTC) providing a framework for all trade and economic relations between the two countries. Commerce and Industry Minister Arun Jaitley will sign the agreement on behalf of India during a three-day visit to Myanmar from Monday, officials said. Jaitley will also attend the first meeting of the JTC, which will be held in Yangon after the signing ceremony and is expected to be an annual feature. The two-way trade between India and Myanmar last year, though a modest $427.9 million, has been growing, with imports from Myanmar, particularly of beans and pulses, accounting for bulk of it ($345 million). The growth in trade reflects improved bilateral ties in recent years. New Delhi, which was sharply critical of Myanmar's military junta crushing the pro-democracy movement, has been of late muted in its criticism of its action, including last month's arrest of Nobel laureate and National League for Democracy leader Aung San Suu Kyi. Myanmar Foreign Minister Win Aung is visiting New Delhi Thursday as part of Yangon's efforts to drum up support against mounting international criticism and sanctions against the arrest of Suu Kyi.
Source: IANS
siliconindia