India-Myanmar Investment and Trade Promotion Dialogue held

The meeting between members of the delegation led by Mr Shri Vinay Kumar, Ambassador of India to Myanmar and Patron of India-Myanmar Chamber of Commerce-IMCC, and businessmen led by Chairman U Aye Win of Union of Myanmar Federation of Chambers of Commerce and Industry-UMFCCI took place at the UMFCCI on Min Ye Kyaw Swa Road in Lanmadaw Township on 27 February.
At the meeting, UMFCCI Chairman U Aye Win stated that he met a delegation of financial institutions from the Northeast recently and discussed the current economic challenges and opportunities. According to the latest statistical information, India ranks fifth as Myanmar’s Trade Partner, fourth in the largest export destinations and sixth in import sources. India-Myanmar Chamber of Commerce is one of Myanmar’s closest business partners, and trade and business cooperation between the two countries will be increased, he added.
Afterwards, Mr Shri Vinay Kumar replied that Myanmar is an important trading partner of India and India’s export partner as well. He discussed the implementation of solar power projects, continued cooperation between the two countries despite hardships, improvement of the transport sector, relaxation of import licences, construction of infrastructure, matters on rice export, stability of electric power supply, constant availability of raw materials and promotion of India-Myanmar trade and investment.
During the meeting, representatives of both sides discussed subjects of trade, investment and business cooperation between the two countries, the difficulties and challenges encountered. They also reviewed business opportunities of the respective sectors regarding medicines and medical supplies, agriculture, energy, construction and infrastructure, import and export trade policies, and the tourism sector.
The meeting was attended by UMFCCI Chairman U Aye Win and the vice-chairpersons, General Secretary Daw Khine Khine Nwe and joint secretaries, the central executive committee members, businesspersons, IMCC Patron Mr Shri Vinay Kumar, Chairman Mr Naresh Kumar Dinodiya, Vice-Chairpersons Mr Ravichandran Sabarinathan and Mr Rajeev Rawal, Counselor at Indian Embassy Mr R C Yadav and officials. — Myo Min Thura/CT