New
Delhi praises Myanmar's recent steps towards democracy during President Thein
Sein's official visit.
India has promised Myanmar a $500m credit line
to improve infrastructure after praising the country's steps towards democracy
as it tentatively opens up after half a century of harsh military rule.
The money and warm words on Friday came as
Myanmar President Thein Sein met Indian Prime Minister Manmohan Singh in New
Delhi during a four-day state trip.
Myanmar has been on a campaign to shed its
international pariah status.
The country recently launched economic reforms
and eased limits on freedom of speech by relaxing censorship and unblocking
banned websites.
It also freed several hundred political
prisoners earlier this week, the latest sign of reforms in the poor and tightly
controlled Southeast Asian country of 50 million people.
Thein Sein has surprised critics by signalling
a series of political reforms since taking power in a controversial election
last November, and has also held direct talks with pro-democracy leader Aung
San Suu Kyi.
Expanding
co-operation
On Friday, the leaders of both countries
agreed to expand co-operation in oil and gas exploration, open up border trade
and speed up the construction of natural gas pipelines.
They emphasised in a joint statement the need
for energy security, and Myanmar agreed to encourage more Indian investments in
its energy sector.
Private and state-owned Indian energy
companies have already made substantial investments in Myanmar.
Myanmar has large undeveloped gas reserves and
straddles busy Bay of Bengal shipping lanes, making it strategically important
for energy-hungry emerging power neighbours India and China.
"The prime minister of India
congratulated the president of Myanmar on the transition towards democratic
government and offered all necessary assistance in further strengthening this
democratic transition," they said in a joint statement.
International
pressure
India has long weathered criticism from
international partners for its accommodating stance to Myanmar.
New Delhi feels the signs of reform vindicate
its policy of engagement.
India put aside concerns about human rights in
the early 1990s for fear of losing access to oil and gas as China stepped in
with military assistance and loans to help the country withstand sanctions.
The United States, Europe and Australia are
unlikely to soften sanctions on Myanmar unless nearly 2,000 more political
prisoners are released.
Other Asian countries, however, are keen to
access resources in the mainly Buddhist nation.
The $500m credit line follows a similar $300m
scheme last year. India buys most of Myanmar's agricultural exports and wants
its neighbour to raise output further by planting on idle land.
Trade between India and Myanmar totalled
$1.28bn last year. The two countries have set a modest target of $3bn by 2015.
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Consulting, Investment and Management, focusing three main economic sectors: International PR; Healthcare & Wellness;and Tourism & Hospitality. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programs. Sign up with twitter to get news updates with @SaigonBusinessC. Thanks.
No comments:
Post a Comment