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August 09, 2020

Myanmar, India eye trade promotion

The joint Trade Committee of Myanmar and Inida will hold its fifth meeting in Nay Pyi Taw on 16 and 17 February to promote trade, investment and economic cooperation between the two countries. The meeting will be organized by Myanmar’s Ministry of Commerce and the preliminary meeting was held on 31 January under the auspice of Directorate of Trade.
Our correspondent from Chin State, CL thanga (GNLM-005), interviewed Dr Nandakumar, Consul General of Indian Consulate to Myanmar, on the meeting of the Joint Trade Committee, and the following is the questions and answers. Ed
Question: During the 5th JTC what are the main proposals/discussions on India side or both country side?
Answer: India and Myanmar hold regular consultations under the mechanism of Joint Trade Committee to discuss bilateral trade and commercial matters.  The 4th JTC meeting was held in September 2011 in New Delhi. The 5th JTC meeting will be hosted by Myanmar and is scheduled for 16-17 February 2015 at Nay Pyi Taw. The entire gamut of bilateral trade and commercial matters will be reviewed in the 5th JTC including the measures required for further promoting investment and strengthening trade through both land and sea borders between the two countries.
Q: On JTC, officials from Union Ministry of Commerce will only attend and discuss or any other association such as concerned government officials, companies and business associations will also attend (please mention detail)?
A: The Indian delegation for the Joint Trade Committee will be headed by Smt. Nirmala Sitharaman, Hon’ble Minister of State for Commerce and Industry, Government of India. The meeting is multisectoral in nature involving number of ministries/departments of GoI.
Q: Kindly mention about the overall view of the Consul General, the agreements and implementation of 4th JTC and the preparation of 5th JTC.
A: India and Myanmar are friendly neighbours with deep historical and cultural ties. The two countries also have regular high level exchanges. Hon’ble Prime Minister of India Shri Narendra Modi visited Myanmar for the 12th India-ASEAN summit and 9th East Asia Summit in November 2014. HE Dr. Sai Mauk Kham, Vice President of Myanmar visited Indian in January 2015. On 16-17 February 2015, Smt. Nirmala Sitharaman, Hon’ble Minister of State for Commerce and Industry will be visiting Myanmar for the Joint Trade Committee Meeting.
The two countries have formal interactions at various levels. Both the countries have regular discussions through the mechanism of Joint Trade Committee (JTC) for strengthening bilateral trade and commerce. Considering the fact that Indian has a vibrant and mature economy and Myanmar is a country with rich natural and human resource there is a natural complementarity. However, bilateral trade is below potential irrespective of the positive growth experienced since the 4th JTC. The upcoming 5th JTC will provide a valuable opportunity to discuss some of these issues and various initiatives taken by both sides.

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