NEWS- India to Promote Trade Ties w

[BurmaJapan@xxxxxxx]

India to Promote Trade Ties with Myanmar

               Xinhua
               06-NOV-97

               YANGON (Nov. 6) XINHUA - India expects to
               promote trade ties with and investment in Myanmar
               through a trade exhibition due to open here
               tomorrow, Indian Ambassador to Myanmar Shyam
               Saram told a press conference here today. 

               The week-long Indian Trade Exhibition, sponsored
               by the Indian Trade Promotion Organization, will be
               participated by two dozen prestigious Indian
               companies, which will display a wide range of
               products and technologies covering pharmacy,
               machinery, textiles, cosmetics and food, he said. 

               It will be the second trade exhibition India has held
               in Myanmar since the first one in February 1995. 

               A seminar associated with the exhibition will also
               take place and panelists will explore new
               opportunities for investment and trade after
               Myanmar's entry into Association of Southeast
               Asian Nations earlier this year and its proposed
               entry into BIST-EC (Bangladesh, India, Sri Lanka
               and Thailand-Economic Cooperation), he said. 

               India is one of Myanmar's five major trading
               partners, with trade volume between them
               amounting to about 240 million U.S. dollars in the
               1995-96 fiscal year. Of the total, India's exports to
               Myanmar were 35 million to 40 million dollars while
               its imports from the country were valued at 200
               million dollars. 

               The balance of trade between the two countries has
               been traditionally in favor of Myanmar, he pointed
               out. 

               India mainly sells to Myanmar iron and steel
               products, cement, chemicals, rubber products,
               transport equipment, drugs, jute products and cotton
               yarn while importing from it beans and pulses,
               timber and timber products. 

               India formally entered into a border trade agreement
               in April 1995 with Myanmar, one of its immediate
               neighbors, and border trade activities are carried
               out at points of Moreh (India) and Tamu (Myanmar). 

               According to the Indian ambassador, the border
               trade between the two countries was recorded at
               15 million to 20 million dollars since its inauguration.

               Meanwhile, Indian Minister of State for External
               Affairs Shri Saleem I Shervani is due to arrive here
               later today for the inauguration of the exhibition.