The 7th Joint Trade Committee Meeting between India and Myanmar was held through virtual mode on 24th November 2020. Ministers of both countries co-chaired the meeting. Both the sides reviewed various bilateral issues ranging from trade, investment, banking, connectivity, capacity building and upgradation of border infrastructure and the preparedness to meet the COVID-19 challenges and expanding cooperation in pharma and health sector including traditional medicines.
Indian union minister Piyush Goyal highlighted the strong cultural and commercial ties between India and Myanmar and the priority India attaches to its partnership with Myanmar in accordance with India’s ‘Neighborhood First’ and ‘Act East’ policies. He also highlighted the India’s commitment in enhancing its multifaceted cooperation with Myanmar, in several areas including trade and investment, Oil & Gas, Power, Insurance, Pharmaceutical and Infrastructure and expressed satisfaction on the increased investments by India in Myanmar in these sectors.
Both the countries acknowledged the mutual benefit exists in collaboration and cooperation amongst oil and gas companies of India and Myanmar especially in the field of petroleum products and refining. They appreciated the finalization of the Project Agreement on the establishment of a modern Integrated Check Post (ICP) at Tamu (Phase I) under Indian grant-in-aid that would enhance bilateral connectivity and trade. The meeting concluded with countries expressing satisfaction. Indian Minister also extended an invitation to Dr. Than Myint, Union Minister for Ministry of Commerce, Myanmar for the next Joint Trade Committee meeting scheduled to be held in India in 2021.
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