India-Myanmar trade may hit $3 bn by 2015

Bilateral trade between India and Myanmar is expected to touch $3 billion by 2015 on account of healthy growth in the past few years. During the last fiscal, 2011-12, two-way trade between both countries was over $1.8 billion.

Bilateral trade between India and Myanmar is expected to touch $3 billion by 2015 on account of healthy growth in the past few years. During the last fiscal, 2011-12, two-way trade between both countries was over $1.8 billion.

HT Image

"India-Myanmar trade, whi-ch has already crossed the $1 billion mark, is expected to reach $3 billion by 2015. In the last five years, trade between the two nations has grown at an average of more than 18%," said Ba Hla Aya, charge d'affaires in the embassy of Myanmar, at an event held by industry body FICCI and the EXIM bank of India.

Aya observed that foreign investment is crucial for Myanmar's economic growth but the economy faces challenges such as shortage of human resources, lack of efficient services and non-availability of adequate financing.