Myanmar, India ink 5 trade pacts

Written by fe Bureau | New Delhi | Updated: Jul 29 2010, 04:44am hrs
India has signed five agreements with Myanmar to invest in sectors such as agriculture, livestock development, fisheries, mining, construction, engineering and power generation in that country.

The expansion of counter-terror cooperation topped the agenda of talks held between Prime Minister Manmohan Singh and General Than Shwe, the head of the State Peace and Development Council. India has expressed its concerns over the Chinese traders growing presence in the trade hubs of Mandalay and Tamu, undercutting the presence of the Tamil diaspora in those parts of Myanmar.

At the end of the meet, both sides inked several agreements, including a treaty on mutual legal assistance in criminal matters and an MoU that will engage Archeological Survey of India in restoration of the famous Ananda Temple in Bagan. The two nations also inked agreements on small development projects that provide Indian funding for uplift programmes in villages and towns.

Earlier, at a Ficci business meet, the ministers accompanying General Thwe told Indian investors, The Myanmar government was encouraging the involvement of private sector in the country in a big way.

Myanmar minister Tha said about 400 foreign enterprises from 31 countries were doing business with Myanmar, accounting for an investment of $23 billion. In contrast, only five Indian companies were present in the country, investing $2,00,000. The new areas for cooperation were identified as construction, development of hydropower and manufacturing in Myanmar.