Assam Delegation Visits Myanmar to Boost Bilateral Trade
- Jul 04, 2019,
- Updated Jul 04, 2019, 1:43 AM IST
Guwahati, July 4, 2019:
Understanding that the Mandalay-Sagaing metropolitan region could be the hub for joint venture investments between Myanmar and Indian businesses from Assam, a delegation from Assam visited Myanmar’s Mandalay on Wednesday to discuss potential bilateral agreements.
The delegation was led by the Assam’s Commerce Ministry with eight members of the state’s legislative assembly and 12 senior state government officials.
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As per reports, the delegation wanted to explore investment possibilities and work on tourism claiming it to be in the priority list.
The Indian delegation mentioned that Myanmar continues to be central to India’s “Act East Policy”. This is considered so due to the country’s location as the eastern gateway for India to the rest of Southeast Asia. The policy was unveiled at the 12th Asean-India Summit in 2014 held in Naypyidaw.
Reportedly, the delegation wanted to explore business ties across northeast India and northwest Myanmar, regions that border each other.
Meanwhile, India’s consul-general at Mandalay, Nandan Singh Bhaisora, informed that potential areas for investments or joint ventures include the apparel and garment industry, mining, gas, construction and water infrastructure.
He also mentioned that the Mandalay-Sagaing region is strategic with abundant natural resources, a large pool of workers as well as tourism potential and also to link northeast India with this region.
It is to be mentioned that the bilateral trade between India and Myanmar reached US$1.65 billion in 2017-2018, with the overland border trade valued at over US$90 million. India, the 11th largest investor in Myanmar and the country’s fifth largest trading partner, has its investments mostly in the oil and gas industry.
The Mandalay-Sagaing metropolitan region could be the hub for joint venture investments between Myanmar and Indian businesses from Assam, in northeast India.