Bilateral Trade Between India and Myanmar Increased Through North East Corridor Commerce Minister
NEW DELHI: The Bilateral Trade between India and Myanmar through North-East has grown from Rs. 7752.72 lakhs to Rs. 14452.26 lakhs between 2013-14 and 2015-16, according to the Department of Revenue.
The objective of Act East Policy includes deepening of economic cooperation and expanding trade with countries in the Asia-Pacific Region. The process facilitates bilateral trade from North-East also, Commerce and Industry Minister Nirmala Sitharaman said this in a written reply in Lok Sabha.
The Government has taken several steps for promoting trade from the North-East region, particularly to Myanmar.
Barter trade was shifted to normal trade and all tradeable commodities were allowed for trading.
Trade through sea route was increased by harnessing the proposed Kaladan Multi Modal Transit Transport Facility.
The land connectivity through India-Myanmar-Thailand Trilateral Highway and on Indian side through widening of the Imphal – Moreh road was improved.
Along with bank facilities, Land Customs Stations (LCS) were established at Moreh, Zokhawthar and Champhai.