India, Myanmar discuss local currency settlement, ASEAN FTA review, doubling trade by 2030

The ninth meeting of the India–Myanmar Joint Trade Committee (JTC) was held in Nay Pyi Taw, Myanmar on January 21

India and Myanmar on January 21 discussed promoting rupee–kyat trade settlement, agreed to work towards expanding bilateral trade to $5 billion by 2030, and decided to fast-track the review of the ASEAN–India Trade in Goods Agreement.

"Both sides reaffirmed their commitment to the expeditious completion of the review of the ASEAN–India Trade in Goods Agreement (AITIGA), with a view to making it simpler, balanced, mutually beneficial, and more trade-facilitative," the commerce ministry said in a statement.

The AITIGA is the free trade agreement between India and the 10-member ASEAN bloc.

Bilateral trade between India and Myanmar reached $2.15 billion during 2024–25.

The ninth meeting of the India–Myanmar Joint Trade Committee (JTC) was held in Nay Pyi Taw, Myanmar.

The next meeting will be held in New Delhi.

The meeting was co-chaired by Deputy Minister, Ministry of Commerce of the Republic of the Union of Myanmar U Minn Minn and Additional Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India Nitin Kumar Yadav.

Discussions were also held on potential areas of cooperation to drive mutual growth, with emphasis on sectors such as textiles, transport and connectivity, capacity building, customs and border management, shipping, power, Information and Communication Technology (ICT), Micro, Small and Medium Enterprises (MSMEs), health, pharmaceuticals, and agriculture.

The nations also reaffirmed the strategic importance of the Tamu–Moreh and Rhi–Zokhawthar border trade posts in facilitating cross-border trade.

The Indian side reiterated its request for the early reopening of these land border points. Both nations also underscored the need for developing a corresponding Integrated Check Post at Tamu to further enhance trade efficiency.