India and Burma agreed to create task force for more trade

Guwahati, 6 March, 2004
Mizzima News (www.mizzima.com)

Encouraged by the growing volume of trade across India-Burma trade points, the Confederation of Indian Industries (CII) and the Union of Myanmar Federation of Chamber of Commerce and Industries (UMFCCI) have signed a Memorandum of Understanding (MoU) to create a task force to boost ongoing trade between the countries. The task force will be initiated within three months and include five representatives from India’s northeastern states.

Addressing a press conference in Guwahati on March 4, India’s Minister for Industry, Sri Bhubaneswar Kalita, said that the task force would explore the trade potential between India and Myanmar and identify areas for future investment. He expressed hope that the task force would help young entrepreneurs to expand their trade with Burma.

The industry minister and 20-member business delegation from the Federation of Industries and Commerce of North Eastern Region (FINER) participated in the India Show held recently in Burma’s capital, Rangoon, to display their products. Feeling upbeat by the response from Burmese traders, Sri Kalita said that FINER are keen to expand business in northeast India. “We received a tremendous response from the Myanmar Government and even Prime Minister General Khin Nyunt and senior officials of the country visited our stalls and have expressed their willingness to increase the volume of trade with northeast India,” he added.

General Khin Nyunt had told the FINER trade delegation in Yangon that his government was eager to open up the border with India to increase the volume of trade between the two countries.

Northeast India shares over 600 km of border with Burma. Taking advantage of this situation, India signed a trade pact with Burma in 1994 that began to take effect in 1995. Since then, the volume of trade between the two countries has been gradually increasing. To facilitate more trade with Burma, northeastern Indian traders have been demanding the reopening of the famous StilWell Road.

In response to a question concerning the reopening of the road, Sri Kalita said that the Indian delegation requested the Burmese junta take early steps to reopening StilWell Road. “The mindset of the junta has started changing now. It favours more discussions in this regard. We have also urged the Myanmar Commerce Minister, Pyi Sone, to reopen the road for the benefit of the entire Southeast Asian region.

FINER president, Sri Subhash Agrwala, a member of the recent delegation to Rangoon, said that FINER and the Myanmar India Business Club (MIBC) had signed a pact to increase trade between northeast India and Myanmar. “We have requested the Government to set up a Special Economic Zone (SEZ) on the western border of Myanmar in order to help our plywood traders to run their businesses,” he said.