India-Myanmar Trade Increases to $22 Million

25 February 2017

Bilateral trade between India and Myanmar increased from nearly $11.9 million in 2013-2014 to around $22.2 million in 2015-2016, according to Ms. Nirmala Sitharaman, Minister of State (Independent Charge), Ministry of Commerce and Industry.

In a statement, the Ministry of Commerce and Industry emphasized how India's Act East Policy was instrumental in promoting trade growth between India and Myanmar, deepening economic cooperation and expanding trade through India's Northeast region. Steps taken to increase trade included:

  • Shifting from barter trade to normal trade; expanding to all tradeable commodities;
  • Increasing trade through sea routes by harnessing the proposed Kaladan Multi Modal Transit Transport Facility;
  • Improved land connectivity through the India-Myanmar-Thailand Trilateral Highway;
  • Improved land connectivity through the Imphal-Moreh road widening;
  • Comprehensive Telecom Development Plan for the Northeast;
  • Initiating better banking facilities;
  • Expanding rail networks in the region;
  • Establishing land Customs stations at Moreh, Zokhawthar, and Champhai;
  • Establishing border 'haats' (rural markets); and
  • Establishing an integrated check post at Moreh.

At the Fourth India-Cambodia, Laos, Myanmar, and Vietnam (CLMV) Business Conclave, organized by India's Department of Commerce and Industry and the Confederation of Indian Industry, Ms. Sitharaman urged the governments and business communities of CLMV to become partners in the “Make in India” program, to deepen each other's manufacturing capabilities and strengthen the platform for trade and commerce in the region. Trade between India and the CLMV subregion has grown from $1.5 billion to more than $10 billion in the last 10 years.


Related Links:

ADB Blog: 6 Ways Asian Economic Cooperation is Changing the Region

Economic transformations have accelerated regional cooperation and integration in Asia. In this ADB blog post, Mr. Cuong Minh...
Read More >>

India Drafts Cross-border Energy Trade Framework

India's Ministry of Power is preparing a set of guidelines for cross-border trade of electricity, with draft regulations...
Read More >>

India, Bangladesh to Gradually Remove NTBs

The International Business Forum of Bangladesh (IBFB) held its 12th Annual Conference on 24 May 2017. The opening...
Read More >>

ADB Awards SASEC Rail Project among Best Performing Projects in Bangladesh

The South Asia Subregional Economic Cooperation (SASEC) Railway Connectivity Akhaura-Laksam Double Track Project, implemented by Bangladesh...
Read More >>

Former FBCCI President: Bangladesh-India Relations Better Now

Mr. Abdul Matlub Ahmad, Chairman, Nitol-Niloy Group, Bangladesh, and former President, Federation of Bangladesh Chambers of Commerce and...
Read More >>

SAARC Collaboration Urged to Attract Foreign Direct Investment

The South Asian Association for Regional Cooperation (SAARC) Chamber of Commerce and Industry (CCI) and the...
Read More >>

Need to Improve Bangladesh-India Port Services

Mr. Taskeen Ahmed, President of the India-Bangladesh Chamber of Commerce and Industry (IBCCI) and his delegation...
Read More >>