September 23, 2017

Myanmar, India sign 3 MoUs for cooperation in insurance, power and banking

State Counsellor Daw Aung San Suu Kyi shakes hands with India’s Prime Minister Narendra Modi during a photo opportunity ahead of their meeting at Hyderabad House in New Delhi, India, on 19 October 2016. Photo: Reuters
State Counsellor Daw Aung San Suu Kyi shakes hands with India’s Prime Minister Narendra Modi during a photo opportunity ahead of their meeting at Hyderabad House in New Delhi, India, on 19 October 2016. Photo: Reuters

Myanmar and India yesterday signed three Memorandums of Understanding (MoUs) for cooperation in the insurance, power and banking sectors following delegation-level talks headed by State Counsellor Daw Aung San Suu Kyi and Indian Prime Minister Narendra Modi.
“The two leaders witnessed exchange of agreements in sectors of power, banking and insurance,” Indian External Affairs Ministry spokesperson Vikas Swarup tweeted.

The agreements signed yesterday are as follows:

a) An MoU between the Financial Regulatory Department of Myanmar and the Insurance Institute of India for designing an academic and professional programme for the insurance industry of Myanmar.
b) MoU on cooperation in the Power Sector.
c) An MoU on banking supervision between the Reserve Bank of India and the Central Bank of Myanmar.

Daw Aung San Suu Kyi met Mr Modi on the third and concluding day of her state visit to India.
On Tuesday, she met President Pranab Mukherjee and External Affairs Minister Sushma Swaraj.
This is the first official visit of the State Counsellor to New Delhi since her National League for Democracy (NLD) took office in March.
Prior to reaching New Delhi on Monday, she attended the BRICS-Bimstec Outreach Summit in Goa on Sunday.
Her visit comes after Myanmar President U Htin Kyaw’s visit to India in August.—GNLM

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