On November 24, 2020, Piyush Goyal, Indian Minister of Commerce and Industry along with Dr. Than Myint, Union Minister for Ministry of Commerce, Myanmar co-chaired the 7th Meeting of the Joint Trade Committee between India and Myanmar Virtually. India will host the 2021 Joint Trade Committee meeting between India and Myanmar.
Objective:
Both the country examined multiple sector ranging from trade, investment, banking, connectivity, oil, gas, capacity building and upgradation of border infrastructure during the meeting.
Key Points:
i.In this Covid-19 Pandemic situation, enhanced their co-operation in Pharma, health and Traditional Medicine sector and also discussed about their readiness to meet the Covid-19 challenge & also discussed in the field of petroleum products and refining.
ii.In line with India’s ‘Neighborhood First’ and ‘Act East’ policies, both country reviewed about the connectivity projects and infrastructure at the border to enhance the trade between two countries.
iii.They had agreed to establish the border Haats, that will benefit local communities and promote connection between the peoples of two countries.
About Integrated Check Post (ICP) at Tamu (Phase I):
i.Both the countries acknowledged the establishment of a modern Integrated Check Post (ICP) at Tamu (Phase I) which is built with Indian’s assistance.
ii.The Tamu-Phase 1 project would improve the connectivity as well as will enhance the trade between the countries.
Note – The Indian State besides to this Myanmar’s ICP Tamu is Manipur.
About Myanmar:
Capital – Naypyidaw
Currency – Kyat
President – Win Myint
