Source: The Sangai Express
Imphal, May 18, 2010:
A memorandum of understanding (MoU) has been signed between the trade delegation of India and Myanmar at the occasion of the two-day buyer-seller cum ground level officials meet which kicked off at Tamu yesterday.
In the signing of the MoU, the Indian trade delegation was represented by president of North East Federation of International Trade (NEFIT) M Chandrakishore Singh while the Myanmarese trade delegation was represented by president of Union of Myanmar Border Trade Chamber of Commerce (UMBTCC) U Hla Maung.
After a detailed discussion, the two parties laid down some important agreements to strengthen and enhance trade and investment activities for promotion of the ongoing border trade.
The agreement include exchange of traditional cultural troupes, adoption of food safety norms of International Rules and Regulations, facilitate import-export of fishes and livestocks and consideration of operational of animal quarantine office by both sides.
The two parties also agreed to exchange list of prospective traders of both sides by May 2010 or earlier.
Following the MoU, the import of rice by Indian traders shall be started at the earliest to overcome the problem of shortage of rice being faced by the people of manipur and other Northeaster States.
Both sides may also extend mutual co-operation for operational of Imphal-Mandalay bus service.
Moreover, the Indian side may also be allowed to open more banks at the border town as well as at Yangou as the present designated branch of UBI is unable to cater to the need of the traders for operational L/C facility.
Meanwhile, addressing a press conference at the regent hall of Classic Hotel here in connection with the buyer-seller cum ground level officials meet, president of NEFIT M Chandrakishore Singh explained that the meet was first of its kind with main focus of promotion of border trade in Manipur but it was held in Tamu because of the present crisis in Manipur.
If the situation does not improve, the focus of trade activities may be shifted from Manipur and other States like Mizoram may reap the benefit.
Expressing unhappiness over slow progress of the ongoing border trade, Chandrakishore maintained that everything is clear on the side of Manipur but it is not so with Myanmar.
UBI bank branch have been construction in Manipur but not in Myanmar which has also no idea of the letter of credit system due to be introduced, he added.