India turns to Myanmar and ASEAN to boost trade ties amid global economic uncertainties
With increasing economic uncertainties across the globe, it makes immense sense to focus on neighbouring countries and domestic market. India is doing the same by focusing on increasing its trade ties with neighbouring nations, including Myanmar and the Association of South-East Asian Nations (ASEAN) region.
India and Myanmar are working together on a roadmap to facilitate trade between the two nations. Beyond that, India is also looking at utilising its ties with Myanmar to boost trade with the ASEAN, the 10-nation bloc. Commerce Secretary Rita Teaotia notes that the trade route between India and Myanmar has the potential to gain significantly from the ASEAN region. "Just sending goods to each other would not help, so, we will need to work together on a roadmap on how to allow the goods of ASEAN region also and provide them (traders) a secure environment, modern infrastructure and speed of movement," adds Ms Teaotia.
Better infrastructure
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