PM signs major pacts with Myanmar to boost ties on many front
MoU on border area devt inked
Source: The Sangai Express / Agencies

New Delhi, May 28 2012: On his second day in Myanmar, Prime Minister Manmohan Singh met with the Myanmar leaders and signed as many as 12 agreements.

The agreements were signed after a lengthy meeting with the Myanmar leadership.

The agreements and MoUs that Manmohan Singh has signed clearly signal India and Myanmar's increased cooperation in trade, culture, links and strategic depth.

Among the 12 agreements that were signed was a Memorandum of Understanding on Myanmar-India Border Area Development.

This MoU is important as it will help check the operations of separatist groups in the region.

Another important agreement that was signed was the Air Services Agreement.

Till now there were no flights between the two nations.

This agreement would open up a crucial link for trade and exchange and help foster stronger economic ties between the two countries.

Another crucial agreement that was signed was the MoU on extending a YSD500 million credit line between the Export-Import Bank of India and Myanmar Foreign Trade Bank.

This is an important MoU as the country is on the verge of economic development, with India signaling its willingness to bet its money on Myanmar.

However, China has already invested and pledged billions in Myanmar.

The other agreements included one on setting up Myanmar Institute of Information and Technology (which India will assist in) and an MoU on setting up an Advanced Centre for Agriculture Research and Education.

Myanmar has a huge capacity for agricultural expansion, what it needs is knowhow and irrigation.

This is where India will help.

Two other agreements involve a Cultural Exchange Programme 2012-15 which will help further India and Myanmar's cultural ties and an agreement on the establishment of joint trade and investment forum which is aimed at fostering and strengthening the business ties of the two countries.

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