India Myanmar Border Trade Agreement 1994

India and Myanmar have signed a bilateral Investment Promotion and Protection Agreement (BIPPA) and an Agreement on the Prevention of Double Taxation (DBAA). These agreements aim to provide an easy flow of bilateral investment and corporate profits, as well as tax issues. Both agreements have been ratified by India and Myanmar. The governments of India and Myanmar have set a target of $1 billion in 2006/2007, but available trade figures show that they are well below the desired value. While India-Myanmar shares trade relations in many areas, they can continue to develop trade relationships in areas such as pharmacy, health, transportation, food processing, steel, renewable energy, communications, education and others that can help both countries revitalize and create jobs. Given the suboptimal evolution relative to trade and investment, there is enormous potential and optimism to expand its potential. The Indian Ministry of Trade is working to identify sectors and opportunities for improved trade between the two countries. Myanmar`s LDC status can also be an advantage for Indian companies they can benefit from, as they have a production base in Myanmar. Border markets are open weekly from Monday to Thursday and from 7:30 a.m. to 3:30 p.m. Indian time, and from 10 a.m. to 6 p.m. Chinese time would be the dates of border trade.

Myanmar 🇲🇲 India 🇮🇳 border trade is increasing by more than $27 million. (via The Global New Light of Myanmar) The gap has helped divert trade to informal channels where exporters can achieve value at the unofficial exchange rate. The overvalued official exchange rate is not only a deterrent to conducting business activities in the official channel, but also does not provide many opportunities for banks to manage foreign exchange transactions. The lack of participation of banks and other financial institutions appears to be a weakness in the trading system. India and Myanmar share a common border of 1,643 kilometres along the Potkai Hills.