India, Myanmar Review Trade Ties, Set USD 5 Billion Target By 2030

ENA Global 2026-01-22 16:05:56 New Delhi, Jan 22 (KNN) The ninth meeting of the India Myanmar Joint Trade Committee (JTC) was held on Wednesday in Nay Pyi Taw, where both sides reviewed steps to strengthen trade relations and expand cross-border economic cooperation. The meeting was co-chaired by U Minn Minn, Deputy Minister of Commerce of Myanmar, and Nitin Kumar Yadav, Additional Secretary in Indias Ministry of Commerce and Industry. Focus on Connectivity, Market Access and Trade Facilitation The committee discussed a broad set of measures to boost bilateral trade, including enhancing connectivity, widening market access, easing financial transactions, improving border infrastructure, reopening border trade posts, and promoting the Rupee Kyat trade settlement mechanism. The two sides also explored ways to better leverage the ASEAN India Trade in Goods Agreement (AITIGA). Myanmar thanked India for maintaining an open and supportive policy regime for its exports, especially pulses and beans. Sectoral Cooperation to Drive Mutual Growth The talks covered potential collaboration across key areas such as textiles, transport and connectivity, capacity building, customs and border management, shipping, power, ICT, MSMEs, health, pharmaceuticals and agriculture. Both sides agreed that deeper cooperation in these sectors could deliver lasting benefits and further reinforce the framework of mutual support and partnership between the two countries. Border Trade Posts and Infrastructure Development The meeting reaffirmed the strategic role of the Tamu Moreh and Rhi Zokhawthar border trade posts in enabling cross-border commerce, with India urging their early reopening. Both sides also stressed the need to develop a corresponding Integrated Check Post at Tamu to enhance trade efficiency and logistics. Trade Targets and AITIGA Review India Myanmar bilateral trade reached USD 2.15 billion in 2024 25, showing steady growth. Recognising further potential, both sides agreed on a shared goal to expand trade to USD 5 billion by 2030. The meeting reaffirmed the commitment to an early conclusion of the AITIGA review to make the agreement simpler, more balanced and trade-facilitative. Both sides agreed to deepen cooperation in the identified areas and maintain regular inter-agency communication to ensure effective follow-up. (KNN Bureau) 44862 https://knnindia.co.in/news/newsdetails/global/india-myanmar-review-trade-ties-set-usd-5-billion-target-by-2030 2026-01-22 16:05:56 knnindia.co.in India, Myanmar Review Trade Ties, Set USD 5 Billion Target By 2030