India has pledged 60 million USD to build a road linking Myanmar to India’s state of Mizoram and 10 million USD for agricultural development in the southeast Asian nation.
The commitment was made on July 27 during a five-day official visit to India by Chairman of the State Peace and Development Council of Myanmar General Than Shwe.
According to a joint statement, India also committed to providing 64 million USD to Myanmar ’s energy sector, including construction of electricity transmission lines.
India’s state-owned EXIM bank will provide 60 million USD in loans to Myanmar for financing railway projects, the joint statement added.
On this occasion, the two countries signed a number of pacts, including agreements on fighting against cross-border weapon smuggling and drug trafficking, and counter-terrorism cooperation.
General Than Shwe’s visit aims to increase economic cooperation and security along the shared border.
Two-way trade between India and Myanmar reached 1.19 billion USD in the 2009-2010 fiscal year, up 26.1 percent over the previous year. India is Myanmar ’s fourth-largest trading partner, behind Thailand , China and Singapore .
Myanmar ’s exports to India reached 1 billion USD and imports from India were 194 million USD. India has invested 189 million USD in Myanmar./.
The commitment was made on July 27 during a five-day official visit to India by Chairman of the State Peace and Development Council of Myanmar General Than Shwe.
According to a joint statement, India also committed to providing 64 million USD to Myanmar ’s energy sector, including construction of electricity transmission lines.
India’s state-owned EXIM bank will provide 60 million USD in loans to Myanmar for financing railway projects, the joint statement added.
On this occasion, the two countries signed a number of pacts, including agreements on fighting against cross-border weapon smuggling and drug trafficking, and counter-terrorism cooperation.
General Than Shwe’s visit aims to increase economic cooperation and security along the shared border.
Two-way trade between India and Myanmar reached 1.19 billion USD in the 2009-2010 fiscal year, up 26.1 percent over the previous year. India is Myanmar ’s fourth-largest trading partner, behind Thailand , China and Singapore .
Myanmar ’s exports to India reached 1 billion USD and imports from India were 194 million USD. India has invested 189 million USD in Myanmar./.
