Friday, December 21, 2012

Indian business elite host dinner for Thein Sein

Friday, 21 December 2012 18:29 Ko Pauk

The Confederation of Indian Industry (CII) led by Chairman Adi Godrej will host a closed-door dinner in Mumbai on Friday night for visiting Burmese President Thein Sein who is currently in India to attend an India-ASEAN summit in New Delhi.

 “Businessmen and industrialists want to meet the Burmese President during his visit,” ChargĂ© d’Affaires ad interim Ba Hla Aye from the Burmese Embassy in New Delhi told Mizzima.

“They sought permission to see him in Delhi but it could not be granted because of his tight schedule,” he said. “Then they requested again to host him for dinner when he visits Mumbai. Various businessmen, entrepreneurs and industrialists have been invited, but this is not an occasion for business negotiations. This is just an informal dinner.”

The CII hosted the Indian Trade Fair in Burma in October 2011 when more than 60 Indian companies participated.

As a “least developed country” as recognized by the UN, Burma is entitled to special preference status, the Indian government said in 2010. Burma also enjoys privileged rights in a Free Trade Agreement signed between India and ASEAN in 2009.

The current trade value between India and Burma is US $1.5 billion. The most common commodities traded are pulses and beans, timber, iron and iron materials, small machinery and equipment, and pharmaceuticals.

At the fourth joint trade committee meeting held in New Delhi in September this year, both countries agreed to raise bilateral trade twofold by 2015.
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