Kalam sets $2 bn target for trade with Myanmar

Yangon | March 11, 2006 5:16:08 AM IST

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Bilateral trade between India and Myanmar which stands at $470 million should increase to $2 billion in the next three years, Indian President A.P.J. Abdul Kalam said here Friday as he outlined the potential of business links between the two countries.

Kalam, who addressed the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) over dinner, said the target of $2 billion could be achieved through memoranda of understanding with the Confederation of Indian Industry (CII) and the Bengal Chamber of Commerce and Industry.

"We should make full use of the two border posts, Moreh-Tamu and Zowkhathar-Rhi, for providing the impetus for the growth of bilateral trade," the president said.

About cooperation in IT, he said India would help Myanmar establish IT parks on the lines of the STPI (Software Technology Park of India). "You may call them SPTM (for Myanmar) or by some other such name," he suggested.

"There is tremendous potential in the areas of power generation gas transportation, road connectivity and satellite communication. Above all, there is a need for renewal of agriculture production in Myanmar as it was in the past," said the president, during whose visit three agreements have been inked.

He told the gathering that India increasingly looked at Myanmar as a key element in its Look East policy and "trusted partner" in its vision for a vibrant Pan-Asian community.

(IANS)