India, Myanmar Discuss Resuming Border Trade

New Delhi, Feb 15 (PTI) India and Myanmar have discussed the importance of resuming border trade through roads and agreed to take steps on this issue, an official statement said on Sunday.

The issue was discussed during a meeting between Myanmar's Deputy Commerce Minister U Minn Minn and Minister of State of Commerce and Industry Jitin Prasada here on February 14.

They discussed possibilities to increase cooperation in areas such as pharmaceuticals, pulses, petroleum products and greater use of the recently launched Rupee-Kyat trade settlement mechanism.

"During the meeting, both the leaders deliberated on the potential areas of collaboration to promote bilateral trade and also acknowledged the importance of resuming border trade through roads and agreed to take steps on this issue," the commerce ministry said.

India is the fifth-largest trading partner of Myanmar. The bilateral trade stood at USD 1.74 billion in 2023-24 against USD 1.76 billion in 2022-23.