Mr U Win Myint, Union Minister for Commerce of Myanmar, invited Indian companies to invest in Myanmar. He was addressing an interactive meeting between the business people of India and Myanmar, organised by the Confederation of Indian Industry (CII). He said that Myanmar government was on a fast track to liberalize the economic policies through reforms to make it trade and investment friendly. Referring to the forthcoming "Enterprise India Show" being organized by the Confederation of Indian Industry in Yangon from 10-13 November 2011,Mr Myint hoped that it would provide opportunities for the enterprises of the two countries to come closer to each other and create a business environment conducive to trade and investment.

Mr Myint is presently on a visit to India to participate in the fourth India-Myanmar Joint Trade Committee meeting. He said that India is presently the fourth largest export market and fifth largest trading partner of Myanmar with total bilateral trade of about $1.5 billion. He pointed out that investment from India till now was very low and urged Indian businessmen to 'explore ways and means' to get a market in Myanmar. Since Myanmar imported a lot of consumer goods, industrial and infrastructural goods, there was a huge potential in those areas, he added. He felt that India being rich in technology & capital resource in manufacturing & services, especially the ICT sector, could invest in Myanmar in the form of a joint venture or foreign equity.

Dr Naresh Trehan, Chairman CII National Committee on Healthcare and Chairman & Managing Director Medanta - The Medicity, in his welcome remarks, said that the two countries should cultivate the age old bonds of culture, religion and history to take the bilateral trade and economic cooperation to new level. He particularly mentioned that the cooperation in services sector, such as healthcare, IT, science and technology, education, tourism etc., would create better understanding between the two countries and benefit the development on long term basis.

Mr U Zin Yaw, Ambassador of Myanmar in his address, expressed satisfaction over the implementation of the ASEAN-India Trade in Goods Agreement by the two countries. Mr U Win Aung, President of Union of Myanmar Federation of Chambers of Commerce & Industry (UMFCCI) said that due to its strategic position between large markets of India and China, Myanmar can serve as a hub and a gateway for trade with its neighbors and also with the ASEAN regional market.