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India pledges assistance to Myanmar

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.
India has pledged 60 million USD to build a road linking Myanmar toIndia’s state of Mizoram and 10 million USD for agricultural developmentin the southeast Asian nation.

The commitment was made on July27 during a five-day official visit to India by Chairman of the StatePeace and Development Council of Myanmar General Than Shwe.

Accordingto a joint statement, India also committed to providing 64 millionUSD to Myanmar ’s energy sector, including construction ofelectricity transmission lines.

India’s state-owned EXIM bankwill provide 60 million USD in loans to Myanmar for financingrailway projects, the joint statement added.

On this occasion,the two countries signed a number of pacts, including agreements onfighting against cross-border weapon smuggling and drug trafficking, andcounter-terrorism cooperation.

General Than Shwe’s visit aims to increase economic cooperation and security along the shared border.

Two-waytrade between India and Myanmar reached 1.19 billion USD in the2009-2010 fiscal year, up 26.1 percent over the previous year. Indiais Myanmar ’s fourth-largest trading partner, behind Thailand , Chinaand Singapore .

Myanmar ’s exports to India reached 1billion USD and imports from India were 194 million USD. Indiahas invested 189 million USD in Myanmar./.
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