To strengthen bilateral trade, India and Myanmar have set a $1 bn bilateral trade target for 2006-07 in areas which includes agriculture, IT, automobiles, textiles, telecommunications and oil & gas.
India is offering financial assistance worth $35 million to Myanmar for developing various projects which includes multi-modal transport system, road, railways and telephone network, said Sanjay Budhia, Vice-President, ICC, while speaking at a seminar on India-Myanmar Trade and Commerce organised by Indian Chamber of Commerce and Industries (ICC).
Ways and means for co-operation can also be found in areas of education and technology training, said Mr U Soe Paing, Consul General, Consulate General of Union of Myanmar, Kolkata.
India is ranked as the second-most important market for Myanmar exports and the seventh-most important source of its imports, as per a report released by ICC.
Principal exports from Myanmar to India are rice, maize, pulses, beans, sesame seeds, fish and prawns, timber, plywood and veneer, raw rubber, base metals and castor seed.
India's main exports to Myanmar are machinery and apparatus, dairy products, textile yarn, pharmaceutical products, rubber manufacturers and base metals.
To improve Indo-Myanmar trade and commerce, obstacles relating to transport, banking or other infrastructure has to be resolved, recommends ICC.
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