DoNER Ministry seeks MEA's aid
Source: The Sangai Express
Imphal, August 13 2011:
In the aftermath of the formal launching of normal trade between India and Myanmar through Moreh, the Ministry of DoNER has asked the Ministry of External Affairs to take up necessary steps with the Government of Myanmar for facilitating exchange of currency between the two countries for the border trade.
An official source informed that the DoNER Secretary sent a written intimation to the Secretary, Ministry of External Affairs on August 8 to take up necessary steps together with the Government of Myanmar so that there is a mechanism for exchange of currency between the two countries for the trans border trade.
At present, Indian currency Rupee and Myanmarese currency Kyat are being exchanged in an informal manner.
Till date, there is no formal mechanism for exchange of the two currency.
On the other hand, Government officials, bank officials and businessmen of the two countries would hold a joint meeting on August 16 17 at Moreh to discuss on enhancing cross-border trade and introduction of Letter of Credit.