Manipur Deputy CM to attend Business Conclave in Myanmar

Newmai News Network
IMPHAL, January 15

Manipur Deputy Chief Minister Gaikhangam will attend a Regional Investment and Business Conclave to be held at Monywa in Sagaing Region of Myanmar on January 18-19.
The conclave, which will also discuss about the banking sector, is being jointly organised by Consulate General of India, Mandalay, Myanmar in association with the government of Sagaing Region and North East chapter of Indian Chamber of Commerce, Guwahati, officials informed today.
The Reserve Bank of India discontinued the Indo-Myanmar barter trade from December 1, 2015 to switch over completely to normal trade. Under this system trading is done without exchanging of money. The RBI took the decision following improvement in banking presence in the border.
Twenty-two items such as fruits, onion and bamboo were allowed to barter trade by India and Myanmar. The Indo-Burmese border stretches over 1,600 km. Burma (now Myanmar) is located south of the states of Manipur, Nagaland, Mizoram and Arunachal Pradesh.
India and Myanmar have agreed to a 4-lane, 3200 km triangular highway connecting, India, Myanmar and Thailand. This route, expected to be completed by 2016, will run from the Northeastern states into Myanmar. For this, over 1,600 km of road will be constructed or improved.
India’s Look East Policy aimed at growing extensive economic and strategic relations with the nations of Southeast Asia in order to strengthen its standing as a regional power and counterweight to the strategic influence of China.