GUWAHATI, Oct 20 ? The joint task force constituted by the Confederation of Indian Industry (CII) and the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) has suggested a slew of measures for enhancing bilateral trade between India and Myanmar.
The 30-page recommendations prepared after a detailed study in various areas will be presented before the Indian Commerce Minister Kamal Nath and Aung Thaung, Ministry of Industry, Government of the Union of Myanmar on October 25 in New Delhi. The North East has been identified as a major trade point with Myanmar in which the task force has suggested improving the existing infrastructure besides opening of more river routes through Mizoram border for gearing up of trade.
The task force was constituted early part of this year at the initiative of CII to cement the relation between India and Myanmar and for increasing volume of trade between the countries. The members of the task force had made a through survey in several areas of Myanmar and India and agreed to facilitate roads and railway linkages between North East and Myanmar.
To enhance trade through river routes, the report recommended initiating steps for opening of trade movement through Tiau river among Zokhathwar (Mizoram) ,Falam and Tidin of Myanmar. It also suggested opening of a new river route from Mizoram to Akyap Port of Myanmar.
The Indo- Myanmar trade pact was signed in 1994 and it was made operational in 1995. Since then the volume of trade between the countries has been gaining momentum. Though the export figure is still poor compared to import ,the North East has been able to catch the Myanmar market gradually after opening of three trade points. According to official statistics, the overall trade between Indian and Myanmar stood at $ 411.12 US in 2003 and this year so far trade has been encouraging.
Apart from North East , the report also identified several core areas including oil and gas, healthcare, IT, tourism and pharmaceuticals and recommended Indian companies to go for investment. Talking to this correspondent here today, Abhijit Barooah, chairman ,CII, Assam State Council , said that the North East can reap the benefit by way of increasing volume of trade with Myanmar.
? In the report we have suggested opening of bank branches along the border trade points so that the traders involved in the bilateral trade can run their business without any problem?, he said. On free flow of third country goods to the region, he observed that the movement of Chinese goods can be contained by bringing more transparency in the present trading system.
In this context, Barooah pointed out that the mindset of the Myanmar Government has started changing now, as it wants more investment from the Indian side. ? They have also asked the Indian banks to open offices in Yangon to facilitate business and this part has been incorporated in the joint report?, he said adding that the report would give a direction to the Indian companies for investment in Myanmar.