Trade With Myanmar and Taiwan

The Minister of Commerce and Industry has visited Myanmar during 5-8 June, 2013 to attend the World Economic Forum Meeting on East Asia and for bilateral interactions. The Minister had bilateral meetings with Myanmar President, Minister for Commerce, Minister for Energy and Minister for Communication & Information Technology to boost the trade between the two countries. The issues identified for cooperation were Infrastructure Development, Institution Building, Agriculture and Agro Processing, Education, Information Technology, Communications, Banking Sector, Energy and Mining etc. Bilateral economic cooperation was also reviewed.

During the financial year 2010-11, 2011-12, 2012-13 and 2013-14 (till June, 2013), total trade with Myanmar was US$ 1,338.29 Million, US$1,926.52 Million, US$ 1,957.35 Million and US$ 515.49 Million respectively. During the year 2012-13, the top ten items of export were Drugs, Pharmaceuticals & Fine chemicals, Machinery and Instruments, Oil Meals, Primary & Semi-finished Iron & Steel, Transport Equipments, Electronic Goods, Manufactures of Metals, Rubber Manufactured Products Except Footwear, Cotton Yarn, Fabrics & Plastic and Linoleum Products. There is a bilateral trade target of US$ 3 billion by 2015.

According to Myanmar Statistics, India is the tenth largest investor in Myanmar. India has offered help in reviving 300 apparel factories in Myanmar including other bilateral collaboration in textile sector. The modalities of bilateral collaboration between the two countries in textile sector are at a preliminary stage.

During the financial year 2010-11, 2011-12, 2012-13 and 2013-14 (till June, 2013), total trade with Taiwan was US$ 6,262.60 Million, US$ 8,174.82 Million, US$ 7,007.32 Million and US$ 1,554.58Million respectively.

The information was given by the Minister of State in the Ministry of Commerce and Industry Dr. D. Purandeswari in a written reply in Lok Sabha today.