Sectors

India, Myanmar Join Hands For Power Banking And Insurance Sectors

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October 20
6:00 AM 2016

India and Myanmar on Wednesday signed three agreements following delegation-level talks headed by Prime Minister Narendra Modi and the southeast Asian nation's State Counsellor and Foreign Minister Aung San Suu Kyi.

"#IndiaMyanmar: Partners in Progress - The two leaders witness exchange of agreements in sectors of power, banking and insurance," External Affairs Ministry spokesperson Vikas Swarup tweeted.

Daw Aung San Suu Kyi met Mr Modi on the third and concluding day of her state visit to India.
On Tuesday, she met President Pranab Mukherjee and External Affairs Minister Sushma Swaraj.
This is the first official visit of the State Counsellor to New Delhi since her National League for Democracy (NLD) took office in March.

The Agreement/ Memorandum of Understanding to be entered between India and Myanmar are as follows:

a) MoU between Financial Regulatory Department of Myanmar and Insurance Institute of India for designing an academic and professional building programme for insurance industry of Myanmar.

b) MoU on Cooperation in the field of Power Sector.

c) MoU on Banking Supervision between RBI and Central Bank of Myanmar.

On Tuesday, she met President Pranab Mukherjee and External Affairs Minister Sushma Swaraj. Though Suu Kyi is not the President as Myanmar's constitution bars her from this post, the Nobel peace laureate is effectively the de facto ruler of the country.

Prior to reaching New Delhi on Monday for the state visit, she attended the BRICS-Bimstec Outreach Summit in Goa on Sunday.

This is Suu Kyi's first official visit to New Delhi since her National League for Democracy (NLD) assumed power in Myanmar in March this year. Prior to reaching New Delhi on Monday for the state visit, she attended the BRICS-BIMSTEC Outreach Summit in Goa on Sunday.

Her visit comes after Myanmar President U Htin Kyaw's visit to India in August this year.

The MoUs were signed in the presence of Prime Minister Narendra Modi and visiting Myanmar State Counsellor Aung San Suu Kyi.

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