The Hindu Business Line : India-Myanmar panel plans to take bilateral trade to $1 b

THE India-Myanmar Joint Taskforce, at a meeting held here under the aegis of the Confederation of Indian Industry (CII), Eastern Region, has decided to engage in a consultative process to identify ways and means of increasing bilateral trade between the neighbours to $1 billion by 2006.

Both sides have agreed to expand trade in a manner that would facilitate greater synergy between Myanmar and the North-Eastern States of India.

The Indian side at the first joint taskforce meeting was led by Mr Rajive Kaul, Chairman, India-Myanmar Joint Taskforce.

Mr Win Myint, President, The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), led the five-member delegation from Myanmar. Mr R.K. Bhatia, Ambassador of India to Myanmar, and Mr Zeyar Oo, Consul-General, Consulate of Myanmar, Kolkata, were special invitees.

At a news conferencehere, Mr Rajive Kaul said the taskforce would identify appropriate channels to enhance business-to-business interface between India and Myanmar.

Recommendations for increasing official trade will be made on the basis of the joint taskforce report, to be submitted to both the governments.

The taskforce has also agreed to look into credit-related matters, which will help overcome obstacles to trade expansion.

Investments and technology transfers from India to Myanmar and joint ventures will also constitute the mechanisms to put India-Myanmar economic cooperation on a higher plane.

The taskforce will also consider and advise on participation in multilateral forums such as ASEAN and BIMST-EC (Bangladesh, India, Myanmar, Sri Lanka, Thailand Economic Cooperation).

CII is also assisting the Ministry of Commerce of Myanmar in organising a `Made in Myanmar' exhibition in India that would showcase Myanmar's strengths to Indian industry.

Some of the other initiatives include promoting tourism, establishing export processing zones in the border areas and setting up an India-Myanmar CEOs' Forum.

The taskforce meeting was attended by Mr Sanjay Budhia, Chairman, CII (ER), Mr Dipankar Chatterjee, Chairman, North-East Committee, Mr Sumit Mazumdar, past-chairman, CII (ER), and Managing Director, TIL Ltd, and Mr Aloke Mukherjea, past-chairman, CII (ER), and Chairman, Webel.