Press Note:Myanmar India Business Conclave(18-20 May, 2016) (2)
Embassy of India
An India Myanmar Business Conclave was hosted by India at Yangon on 18-20 May 2016 as part of its Act East policy. A 25 member business delegation from India attended the Conclave led by Smt. Nirmala Sitharaman Minister of State (Independent Charge) for Commerce & Industry (CIM). More than 40 top CEOs from Myanmar also attend the Conclave. This is the first visit of any Minister from India after the new government in Myanmar.
Smt. Nirmala Sitharaman congratulated Myanmar for landslide victory by the National League for Democracy led by Daw Aung San Suu Kyi in the elections held in November 2015. She acknowledged the calibrated and pragmatic stand of the Government towards a peaceful and orderly assumption of power.
Highlight of the event was a Government-Business Round table on the theme: ‘Forging Partnerships’. Speaking in the Roundtable, Smt. Nirmala Sitharaman conveyed that India had opened 96.4% of tariff lines at zero duty for Myanmar under its Duty Free Tariff Preference scheme besides ASEAN India FTA. The transition from barter trade to normal trade wef 1 Dec 2015 was a step forward to boost trade. Similarly a liberal access was available for Services including a visa fee waiver for Myanmar applicants applying for Indian Business and Employment visas.
At the inauguration Smt. Nirmala Sitharaman acknowledged Myanmar’s achievement in organic and sustainable agriculture. She offered that India can cooperate in boosting productivity by providing technology and agri equipment. Pharmaceutical sector is an area where India can engage actively specially for public heath care. She also identified Textiles, IT, Automobile industry wherein India can engage for mutual benefit. She conveyed India’s commitment to contribute to Myanmar’s development including road and connectivity projects, border projects such as border haats and ICPs. Commerce and Industry Minister of India invited Myanmar to hold road shows in key cities of India exhibiting the opportunities available in Myanmar to connect to larger numbers of Indian businesses.
The two days witnesses intensive sessions and B2B interactions in the sectors such as Agriculture, Manufacturing and Employment, IT, Health, Education, Skill Development, Power & Renewable energy, Connectivity (Air, Sea, Land), Tourism and Hospitality, SEZs, Industrial Zones and Finance.
Smt. Nirmala Sitharaman had bilateral interactions with Mr U Win Khaing, Myanmar Minister for Construction, Dr. Than Myint, Myanmar Minister for Commerce and Mr U Khin Maung Cho, Myanmar Minister for Industry. Issues related to long term engagement on G2G basis for procurement of pulses, easy access to Indian pharma products and pharma companies, Indian investment in infrastructure, capacity enhancement and upgrading border infrastructure, were discussed between the two sides. Myanmar requested for cooperation in skill development, capacity building and training for both public and private sector. India assured that it shall assist Myanmar in its endeavor to modernize and assist based on the priority areas where such cooperation is sought by Myanmar.
May 19, 2016
Press Release-13 January 2016
Embassy of India
The 3rd CMLV (Cambodia, Myanmar, Lao PDR, Viet Nam) Business Conclave concluded yesterday, after deliberations on 12-13 January 2016 at Mamallapuram, near Chennai. The potential of “Myanmar as an Investment Destination” was a major theme at the Conclave. The event was organized by the CII (Confederation of Indian Industry) on behalf of the Ministry of Commerce & Industry, Government of India. The event brought Ministerial delegations from four CMLV countries and was aimed at strengthening linkages with Myanmar as a strategically important trade and investment destination. H.E. Ms. Nirmala Sitharaman, Minister of State (Independent Charge) for Commerce & Industry, Government of India and H.E. Dr Pwint San, Deputy Minister, Ministry of Commerce of the Republic of the Union of Myanmar co-chaired the Conclave along with Ministers from other CMLV countries. Being the first major promotion of Myanmar as an investment destination for the Indian industry in decades, the Conclave was attended by top business leaders of both these countries as also by other CMLV countries.
Recognizing the importance of Myanmar as an exciting emerging market the Conclave this year included a 'Country focus on Myanmar' addressed by a high-level delegation from Myanmar. The ‘Country focus’ included presentations on the investment climate and opportunities, priority sectors for investment and where to invest (SEZ’s, Industrial Zones, Economic Corridors) in Myanmar. Plenary sessions focussed on Connectivity, Financial Imperatives and exploring regional value-chains in industry and services, and parallel sessions were on specific themes for a detailed discussion. The Conclave also brought together some top economic decision-makers along with some dynamic entrepreneurs of Myanmar and India on a common platform with a vision for the future in which the two countries can be economic partners.
Myanmar's land mass, natural, agricultural and human resources, strategic location between the Indian sub-continent, China and the Greater Mekong Sub-region of the ASEAN, regional trade policies and incentives including the ASEAN Economic Community and regional FTAs give it unique advantages. India's geographical proximity to Myanmar and DFTP scheme of the Ministry of Commerce of India allowing duty-free exports for Myanmar for over 96% of tariff lines to India -- also eligible for those investing in Myanmar-- give both Myanmar and India numerous competitive advantages.
Not many may be aware that India has development commitment of nearly US$ 2 billion to Myanmar including major surface transport connectivity, human resource capacity-building, and border area development projects and programmes. The dynamism imparted by the vision of Prime Minister Narendra Modi reflected in India's economic and foreign policies, notably the Prime Minister’s 'Neighbourhood First' and 'Act East' policies, 'Make in India', 'Digital India' 'Smart Cities', renewable energy, focus on India's North East, and numerous other initiatives to modernize India and attract foreign investment, have renewed focus on the Indian economy. India is one of the fastest growing large economies of the world with a GDP of over US$ 2 trillion, a market of over 1.2 billion people, and a level of scientific, technological and industrial development that is one of the most advanced amongst the developing world. The choice of location of the Conclave in Chennai, in Tamilnadu State, apart from revisiting Myanmar’s historic maritime links with this State serves to highlight one of the most industrialized, metropolitan cities in India and a major destination for foreign investments in India. Chennai is well known as a manufacturing center for the automotive and garment industries and their respective supply chains and IT.
Prominent speakers from the Myanmar side included H.E. Dr. Pwint San, Deputy Commerce Minister; Prof. Dr. Aung Tun Thet, Economic Advisor to President & Member, Myanmar Investment Commission; U Win Aung, President Union of Myanmar Federation of Chamber of Commerce and Industry, Yangon, apart from senior officials, Industry leaders from Myanmar, entrepreneurs, international law firms and consultancies.
The Conclave covered Myanmar's investment climate and policies on a range of issues and topics that included:
· Investment Climate and policies
· Special Economic & Industrial Zones, and Connectivity Corridors
· Access to markets (ASEAN Economic Community, FTAs, DFTP Scheme of India et. al.)
· The sessions also discussed challenges for bilateral economic growth, and are for further attention in Information, Air Connectivity, Banking and Finance.
Sectoral focus discussed included Agriculture, Livestock, Fisheries, SMEs, Education, IT and Renewable Energy amongst others major areas of interest to large businesses like energy, infrastructure, power, telecom, construction etc.
B-2-B meetings punctuated all discussions imparting a direction to the qualitative aspects of the deliberations.
Yangon, 13 January 2016