Business
India-Myanmar bilateral trade expected to reach $10 bn by 2020
Yangon, Feb 19
The volume of bilateral trade
between India and Myanmar is expected to reach $10 billion by 2020, said
an official of the Union of Myanmar Federation of Chambers of Commerce
and Industry Thursday.
This was the outcome of discussion here
Wednesday at the Joint Trade and Investment Forum which focused on trade
promotion, cooperation between business communities in the two
countries and investment potential in various sector including renewable
energy, health services and infrastructure development, said the
official, who did not wish to be named.
Both sides targeted $3
billion of bilateral trade volume within 2015, seeking possibilities to
enhance trade and investment between the two countries, according to
Xinhua.
The next Joint Trade and Investment Forum will be held in
Chennai, said India's Commerce Minister Nirmala Sitharaman, who was in
Myanmar in connection with the 5th meeting of the India-Myanmar Joint
Trade committee in Nay Pyi Taw.
According to official figures,
India's investment in Myanmar amounted to $508.426 million as of the end
of December 2014, standing the 11th in Myanmar's foreign investors
line-up since late 1988 when the country opened to such investment.