India – Myanmar Forging partnerships
An India Myanmar Business Conclave was hosted by India at Yangon on 18-20 May 2016 as part of its Act East policy. A 25 member business delegation from India organised by CII attended the Conclave led by Smt. Nirmala SitharamanMini
CIM congratulated Myanmar for landslide victory by the National League for Democracy led by Daw Aung San Suu Kyi in the elections held in November 2015. She acknowledged the calibrated and pragmatic stand of the Government towards a peaceful and orderly assumption of power.
India conveyed their eagerness to engage intensively with the new Government and avail the opportunities emerging in Myanmar. Both sides identified the central themes of the economic engagement being sectors which are labour and employment intensive; technologies which can help Myanmar leap forward on the development front and capacity building- skilling, enterpreneurship. Connectivity- by land, sea and civil aviation; financial connectivity and people to people contact were considered to be key enablers for movement of goods, services, investment and people.
In its vision towards global progressive ties, India has opened 96.4% of tariff lines at zero duty for Myanmar under its Duty Free Tariff Preference scheme besides ASEAN India FTA. The transition from barter trade to normal trade wef 1 Dec 2015 was a step forward to boost trade. Similarly a liberal access was available for Services including a visa fee waiver for Myanmar applicants applying for Indian Business and Employment visas.
Smt. Nirmala Sitharaman
Sectors such as Agriculture, Manufacturing and Employment, IT, Health, Education, Skill Development, Power & Renewable energy, Connectivity (Air, Sea, Land), Tourism and Hospitality, SEZs, Industrial Zones and Finance were identified for cooperation.
India conveyed its interest to invest in Myanmar. It also invited Myanmar businesses to seek opportunities in India through its flagship programme MAKE IN INDIA in continuation of Regional Value Chains across borders.