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New Delhi, 27 September (Hindustan Reporter). The 8th meeting of the India-Myanmar Joint Trade Committee (JTC) concluded on Friday. In the meeting held at Vanijya Bhawan in the capital New Delhi, many important issues were agreed upon between the two countries. The meeting was co-chaired by Siddharth Mahajan, Joint Secretary, Department of Commerce under the Ministry of Commerce and Industry and Myint Thura, Director General, Department of Trade, Myanmar.
The Ministry of Commerce and Industry said in a statement that in the 8th meeting of the India-Myanmar JTC, possible areas of cooperation to promote mutual development were discussed. Both sides discussed focus areas such as shipping, textiles, health, Indian Pharmacopoeia, power, transport and connectivity, ICT, 5-G telecom stack and MSME sector as key avenues of cooperation. Representatives of stakeholder ministries also participated in this meeting.
According to the ministry, the meeting also discussed how this cooperation can lead to long-term benefits, which will help both the countries achieve their goals more effectively while fostering a spirit of mutual support and cooperation. . At the meeting, India also welcomed the creation of the Rupee-Kyat Trade Settlement Mechanism, expecting its implementation to promote growth in bilateral commerce in local currencies with Myanmar.
Commerce Ministry said the JTC meeting reiterated its commitment to expeditiously complete the review of the ASEAN-India Goods Trade Agreement (AITIGA) to make it simple, mutually beneficial, user-friendly and trade-facilitative for businesses. Can go. It is noteworthy that Myanmar is India's 7th largest trading partner within ASEAN. The total bilateral trade in the financial year 2023-24 was US$ 1.75 billion.
