India Opens to Myanmar thru Asean FTA, Normal Trade from 1 Dec 2015

An India Myanmar Business Conclave was hosted by India at Yangon on 18-20 May 2016 as part of its Act East policy. A 25 member business delegation from India attended the Conclave led by Minister of State (Independent Charge) for Commerce & Industry Smt. Nirmala Sitharaman. More than 40 top CEOs from Myanmar also attend the Conclave. This is the first visit of any Minister from India after the new government in Myanmar.

Smt. Nirmala Sitharaman congratulated Myanmar for landslide victory by the National League for Democracy led by Daw Aung San Suu Kyi in the elections held in November 2015. She acknowledged the calibrated and pragmatic stand of the Government towards a peaceful and orderly assumption of power.

Highlight of the event was a Government-Business Round table on the theme: ‘Forging Partnerships’. Speaking in the Roundtable, Smt. Nirmala Sitharaman conveyed that India had opened 96.4% of tariff lines at zero duty for Myanmar under its Duty Free Tariff Preference scheme besides ASEAN India FTA. The transition from barter trade to normal trade wef 1 Dec 2015 was a step forward to boost trade. Similarly, a liberal access was available for Services including a visa fee waiver for Myanmar applicants applying for Indian Business and Employment visas.