India-Myanmar joint venture talk to be held in Myanmar

A 17-member business delegation led by Secretary General Dr T Roy from Calcutta Chamber of Commerce of India will make joint venture talk with Myanmar businessmen at the Union of Myanmar Federation of Chambers of Commerce and Industry ( UMFCCI) here, according to UMFCCI Monday.

The talks, slated for April 4, will cover textile industry, heavy construction, real estate service, electronics, tea and agriculture, timber, mine, energy, steel, jute, finance, tourist industries for establishing joint venture with Myanmar entrepreneurs.

In 2012, bilateral trade between Myanmar and India reached 1386. 23 million U.S. dollars, of which Myanmar's export to India stood 1049.49 million dollars while its import from India was valued at 336.74 million dollars.

According to official statistics, India's investment in Myanmar amounted to 273.5 million U.S. dollars in 8 projects, accounting for 0.67 percent of the total as of December 2012 since Myanmar opened to such investment in late 1988.

India stood the 13th in Myanmar's foreign investment line-up.