India and Myanmar discuss trade and Rupee-Kyat settlement at Jitin Prasada–U Minn Minn meeting
Commerce MoS Jitin Prasada met Myanmar's Deputy Commerce Minister U Minn Minn in New Delhi on 14 February 2025 to discuss bilateral trade.
Summary
Union Minister of State for Commerce and Industry Jitin Prasada met Myanmar's Deputy Minister for Commerce U Minn Minn at Vanijya Bhawan, New Delhi, on 14 February 2025. They discussed trade in pharmaceuticals, pulses and beans and petroleum products, and greater use of the recently launched Rupee-Kyat Trade Settlement Mechanism. Both sides acknowledged the importance of resuming border trade by road and agreed to take steps on it. Bilateral trade stood at $1.74 billion in 2023-24.
Key facts
- Date and place
- 14 February 2025, Vanijya Bhawan, New Delhi
- Leaders
- Jitin Prasada and U Minn Minn
- Mechanism
- Rupee-Kyat Trade Settlement Mechanism
- Sectors
- Pharmaceuticals, pulses and beans, petroleum products
- Trade 2023-24
- $1.74 billion
Practice MCQs 1 questions
Which trade settlement mechanism did India and Myanmar agree to use more at the Jitin Prasada–U Minn Minn meeting of 14 February 2025?
Show answer
Correct answer: D — Rupee-Kyat
The ministers discussed greater use of the recently launched Rupee-Kyat Trade Settlement Mechanism; the kyat is Myanmar's currency.