UBI signs pact with Yangon banks; onus placed on State Govt
Indo-Myanmar trade
Source: The Sangai Express

Imphal, April 01 2009: With items of trade between India and Myanmar increased, cross-border trade between the two countries through Moreh has normalised, said Indian Ambassador to Myanmar Alok Sen.

He, however, admitted that there certain operational problems in the Indo-Myanmar trade through Moreh.

Briefing media persons at Tulihal Airport here today after directly overseeing the cross-border trade between India and Myanmar at Moreh and Tamu yesterday, Alok Sen said that several measures were being initiated to develop the cross-border in different dimensions.

India's Ambassador to Myanmar talking answering queries from the media at the airport

To facilitate growth of bilateral trade, the UBI has signed agreements with three banks of Myanmar to open banking facilities, said Alok Sen.

Pointing out the need of a pro-active role on the part of the State Government, the Ambassador to Myanmar noted the importance of close coordination between the External Affairs Ministry and the Commerce Ministry in order to develop cross-border trade.

Stating that the procedures necessary to convert the border trade through Moreh into normal trade have been completed, Alok Sen said that he understood the various problems being faced by traders in under-taking their business smoothly.

Observing that these problems can be solved by the State Government, Alok Sen said that he has entrusted officials of Industry Dept to convene a joint meeting of the businessmen of the two countries so as to identify loopholes present in formal trade between the two countries.

Notably, the items of trade between the two countries have been increased by 18 from the earlier 22 items, taking the total number of sanctioned trade items to 40 .

To a query about the proposed Imphal-Mandalay bus service, the Ambassador said that all the documents of the proposed plan were with him.

Saying that he would look into what he could do for the proposed bus service, Alok Sen said that the Govt of Manipur might seek some clarification on the matter.

However, it would be more prudent to calculate how much cargo and how many passengers would be transported to and from Imphal and Mandalay by the proposed bus service before the service is launched, the Ambassador said.

Identifying Moreh-Tamu sector as the key point for the Indo-Myanmar trade, he noted the need to develop and improve the Imphal-Moreh section of NH 39.The Ambassador made his trip to Moreh and Tamu by road.

Describing Myanmar as a friendly neighbour, he said that the Government of India is taking big project named Thaladan Project.

Under the project, goods from Sea Wave port of Myanmar will be transported till Mizoram on waterway for further transportation to the North Eastern States.

Technical survey of the project which would take 5/6 years to complete has been conducted twice.

Physical work of the project will begin in the latter part of this year, Alok Sen said.

During his visit to Tamu yesterday, the Ambassador held a meeting with officials of the Tamu-Kale-Kalewa Border Trade and Chamber.

He also held another meeting with traders and community leaders at Moreh.