You are here: Home » News-IANS » General
Business Standard

India-Myanmar bilateral trade expected to reach $10 bn by 2020

IANS  |  Yangon 

The volume of bilateral trade between India and Myanmar is expected to reach $10 billion by 2020, said an official of the Union of Myanmar Federation of Chambers of Commerce and Industry Thursday.

This was the outcome of discussion here Wednesday at the Joint Trade and Investment Forum which focused on trade promotion, cooperation between business communities in the two countries and investment potential in various sector including renewable energy, health services and infrastructure development, said the official, who did not wish to be named.

Both sides targeted $3 billion of bilateral trade volume within 2015, seeking possibilities to enhance trade and investment between the two countries, according to Xinhua.

The next Joint Trade and Investment Forum will be held in Chennai, said India's Commerce Minister Nirmala Sitharaman, who was in Myanmar in connection with the 5th meeting of the India-Myanmar Joint Trade committee in Nay Pyi Taw.

According to official figures, India's investment in Myanmar amounted to $508.426 million as of the end of December 2014, standing the 11th in Myanmar's foreign investors line-up since late 1988 when the country opened to such investment.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, February 19 2015. 18:20 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU