India Signs Four Economic Agreements With Myanmar

India and Myanmar have signed four economic agreements. The first agreement signed is a bilateral investment promotion agreement (BIPA). 

This agreement would focus on facilitating better and greater bilateral investment. It would further provide a framework for the resolution of disputes, for promotion and protection of investment, for extending national treatment and most-favored-nation treatment, for repatriation of investment and returns and also for entry of technical and managerial personnel.   

The second agreement concentrates on credit line agreement between the Exim Bank of India and the Myanmar Foreign Trade Bank for Rs 256 crore. 

It will help in financing three 230 kv transmission lines in Myanmar to be executed by the Power Grid Corporation of India (PGCIL). 

The third agreement which is signed by the Exim Bank of India and the Myanmar Trade Bank for $20 million will concentrate on financing an aluminum conductor steel reinforced (ACSR) wire manufacturing facility to be used for expansion of the power distribution network in Myanmar.

The fourth and the last agreement is for the banking arrangement for the implementation of the Moreh border trade agreement, and is signed between the United Bank of India (UBI) and the Myanmar Economic Bank.

Other than these, the two countries have also signed an agreement for the $130 million joint navigation project on the Kaladan River. The agreement was signed by commerce minister Jairam Ramesh and Myanmar planning Minister Soe Tha.

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