India, Myanmar signed 3 MoUs including Cooperation in the field of Power Sector
Myanmar is our gateway to South East Asia and ASEAN with which India has been seeking greater economic integration through India’s 'Look East' and ‘Act East’ Policy.
India and Myanmar on 19 October 2016 signed three agreements to boost the bilateral relations between the two nations. Keeping in view the sensitivity of each other’s strategic interests, the two nations also agreed for close security coordination in border areas.
The MoUs were inked in New Delhi after delegation level talks with the visiting State Counsellor of Myanmar Aung San Suu Kyi. Suu Kyi was on a three day visit to India. Agreements inked includes
• MoU for designing an academic and professional building programme for insurance industry of Myanmar. The MoU was signed between Financial Regulatory Department of Myanmar and Insurance Institute of India.
• MoU on Cooperation in the field of Power Sector: India has also offered to enhance power supply from Moreh in Manipur to Tamu in Myanmar.
• MoU on Banking Supervision between RBI and Central Bank of Myanmar.
Besides, the two countries also agreed to enhance engagement in several areas like to develop a mutually beneficial arrangement for trade in pulses. India also said that the Archaeological Survey of India will soon begin work on restoring two old temples and inscriptions of King Mindon and King Baygyidaw in Bodh Gaya.
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