• Myanmar-India bilateral trade to reach $10B

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    YANGON: The volume of bilateral trade between Myanmar and India is expected to reach $10 billion by 2020, according to the sources with the Union of Myanmar Federation of Chambers of Commerce and Industry on Thursday.

    The Wednesday discussion focused on trade promotion, cooperation between the two business communities and investment potential in various sector including renewable energy, health services and infrastructure development, the sources said.

    Meanwhile, both sides targeted $3 billion of bilateral trade volume within 2015, seeking possibilities to enhance trade and investment between the two countries.

    The next Joint Trade and Investment Forum will be held in Chennai, according to the Indian Minister for Commerce and Industry Nirmala Sitharaman, who was been here the last two days in connection with the 5th meeting of the India-Myanmar Joint Trade committee in Nay Pyi Taw.

    According to official figures, India’s investment in Myanmar amounted to $508.426 million as of the end of December 2014, standing the 11th in Myanmar’s foreign investors line-up since late 1988 when the country opened to such investment.

    PNA

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