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enhancing india myanmar trade through rupee kyat settlement mechanism

India and Myanmar are advancing discussions on a local currency trade settlement mechanism using the Rupee and Kyat to enhance bilateral trade. Key challenges include addressing non-tariff barriers, improving trade financing, and overcoming infrastructural deficits, while the success of this initiative hinges on achieving balanced trade and formalizing existing practices. The mechanism aims to lower transaction costs and settlement times, fostering deeper economic ties in line with India's "Act East" policy.
Moneycontrol
United States Dollar Indian Rupee Myanmar Kyat Reserve Bank OF India University/AOP/Society Swift & Co. MMR LAO IND Piyush Goyal Kan Zaw Show more
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10:25 23.10.2024
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