India and Myanmar to Boost Border Trade Ties

India and Myanmar are set to enhance border trade through road connections and have discussed cooperation on pharmaceuticals, pulses, and petroleum products. The meeting between Myanmar's Deputy Commerce Minister and India's Minister of State for Commerce and Industry emphasizes the strengthening of bilateral trade relations.

India and Myanmar have taken a significant step towards strengthening bilateral trade by emphasizing the resumption of border commerce via roadways. This development was highlighted in a meeting between Myanmar's Deputy Commerce Minister U Minn Minn and India's Minister of State for Commerce and Industry, Jitin Prasada, held on February 14.

The discussion revolved around enhancing cooperation in various sectors, including pharmaceuticals, pulses, and petroleum products. Both countries recognized the recent Rupee-Kyat trade settlement mechanism as a potential facilitator for boosting economic ties.

According to official statements, the commerce ministry noted the crucial need to revive border trade through road infrastructure. Despite a small dip in bilateral trade figures from USD 1.76 billion in 2022-23 to USD 1.74 billion in 2023-24, India retains its position as Myanmar's fifth-largest trading partner.

(With inputs from agencies.)