Business conclave with Myanmar Sangai fest explores free trade regime idea
Source: The Sangai Express

Imphal, November 22 2013 : As part of the Manipur Sangai Festival, a business conclave of Manipur, Sagaing and Mandalay was held today.

The conclave focused on establishment of a free trade regime between Manipur and Myanmar.

The business conclave hosted by Commerce and Industries Department at Classic Hotel this afternoon was attended by Ministers, officials, businessmen and academicians of Manipur, Mandalay and Sagaing.

The conclave opened by Commerce and Industries Minister K Govindas was attended by Sagaing Agriculture Minister U Saw Myint OO, MLA U Thangliana, MLA U Myint OO, Tamu-Kale Business Trade Chamber and Commerce secretary U Ayeko and Mandalay Indian Consulate General Madan Mohan Shetty.

Notably formal border trade between India (Manipur) and Myanmar through Moreh and Tamu was opened in 1995 .

Speaking at the conclave, K Govindas stated that establishment of free trade between India and Myanmar enhances economic growth rate of both the countries.

As for Manipur, due initiatives have been taken up to set up a multi special economic zone close to Asian Highway-I .

The business conclave underway at Hotel Classic

Chief Minister O Ibobi has already proposed to the Sagaing region Chief Minister to supply forest products, raw precious stones and gems to the multi special economic zone.

Regarding the proposal to supply 4 MW of power to Tamu from Manipur, the Government of India has given its consent, Govindas informed the gathering.

Sagaing Agriculture Minister U Saw Myint OO stated that India is the fourth biggest business partner for Myanmar.

He also sought attention of Indian officials for investment in Sagaing.

Principal Secretary (Industries) O Nabakishore said that construction of a trilateral highway which would be connect Manipur, Myanmar and Masote, Thailand would be completed by 2016 .

In the meantime, ADB has conducted survey for construction of a four-lane highway from Imphal to Moreh at the estimated cost of Rs 1800 crore.

The Indian Embassy in Myanmar has been working to introduce Indigo flight service and Air Asia service between Imphal and Mandalay.

Moreover, the State Government is planning to construct a cargo terminal at Tulihal Airport.

Talking to The Sangai Express, Mandalay Indian Consulate General Madan Mohan Shetty said that the volume of trade between India and Myanmar has been growing rapidly.

Indian company TVS has already opened four showrooms at Mandalay.

An event where Indian products including handloom products of Manipur would be exhibited would be held at Mandalay in January next year, said the Consulate General.